Parsons (PSN) has been awarded a contract by The Boring Company, or TBC, to provide professional services in support of the Dubai Loop project, an underground transportation initiative being developed in Dubai, UAE. This 9-month contract represents new work for Parsons. Under the contract, Parsons will act as TBC’s delegated program manager, supporting design-build activities for the project. As part of this agreement, Parsons will provide integrated services for the Dubai Loop pilot phase. Parsons will also conduct multidisciplinary reviews of civil, structural, mechanical, electrical, safety, and utility designs. In partnership with Dubai’s Roads and Transit Authority (RTA), TBC has been tasked with delivering the Dubai Loop, a multi-phased passenger transport tunnel project comprised of multiple tunnels and stations aimed at expanding Dubai’s transport ecosystem and offering an additional mode of transport to residents in, and visitors to, the city.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PSN:
- Parsons price target lowered to $55 from $65 at Jefferies
- Parsons: Strong Backlog and Bookings Support Multi-Year Growth; Buy Rating Reiterated with Unchanged $72 Price Target
- Parsons price target lowered to $79 from $89 at Stifel
- Parsons price target lowered to $65 from $70 at Citi
- Parsons price target lowered to $58 from $60 at Baird
