AECOM selected to lead program management department, nation-wide housing
and infrastructure development program
LOS ANGELES, December 13 /CNW/ - AECOM Technology Corporation (NYSE:
ACM), a leading provider of professional technical and management support
services for government and commercial clients around the world, announced
today that it has signed a five-year contract which authorizes the initial two
years for $201 million and contains three additional option years for a
potential total value of $574 million. AECOM will lead the Program Management
Department for the Great Socialist People's Libyan Arab Jamahiriya Housing and
Infrastructure Board (HIB).
This announcement establishes AECOM as the main advisor for the Libyan
HIB for major cities throughout the country. According to the master
agreement, AECOM will serve as the overall program manager of the HIB capital
budget program - a comprehensive housing and infrastructure development
program for Libya that will create an enhanced environment for its citizens
and visitors - which the HIB has indicated has a total value of approximately
US $50 billion.
AECOM was selected for the initial phase of this housing and
infrastructure enhancement project in August. Today's announcement reflects a
multi-year agreement that includes two base years totaling $201 million and
three option years. The total potential value of this contract is up to $574
million over five years.
The scope of this effort on the part of the Libyan HIB includes the
construction of new housing and infrastructure systems for all major cities in
Libya; urban design and development; housing units and residential
settlements; upgrades to existing infrastructure, roads, highways, bridges,
water, wastewater and other utility systems; and environmentally focused
"This new agreement with AECOM reflects the significant commitment that
Libya has made to improve our national housing and infrastructure," said Abu
Zaid Dorda, chairman, Libyan HIB. "We have a unique opportunity to enhance the
quality of life for our people and the economic potential for our country
through this major housing and infrastructure development initiative."
The project scope also includes the knowledge transfer and training of
over 100 HIB executives, engineers, and technical specialists at AECOM global
offices on program management, construction management and inspection, and
planning and design.
"We are delighted to advance our partnership with AECOM, and its global
network of expertise and resources, as we move forward in this exciting and
historic period for our nation," Dorda added.
According to Dorda, AECOM will lead the HIB's Program Management
Department, including its more than 250 professionals, and all outside
consultant firms retained for specific planning, design, and construction
Specific responsibilities will include reviewing designs, plans, and
studies submitted to the HIB; assessment and review of current and ongoing
design and construction projects; coordination and integration of master plans
for urban areas; management of the preparation of detailed plans and studies
for housing, water systems, sewage systems, storm sewer systems, roads,
bridges, transit systems, and traffic systems for a number of large cities;
management of the procurement and contracting programs; and the establishment
of management and control networks for all related projects.
"AECOM is honored to be selected by the Libyan Housing and Infrastructure
Board for this very important program," said John M. Dionisio, AECOM president
and chief executive officer. "AECOM's mission is to enhance and sustain the
world's built, natural and social environments. This partnership exemplifies
our commitment to this mission, which will significantly improve the quality
of life for the Libyan people."
AECOM (NYSE: ACM) is a global provider of professional technical and
management support services to a broad range of markets, including
transportation, facilities, environmental and energy. With more than 32,000
employees around the world, AECOM is a leader in all of the key markets that
it serves. AECOM provides a blend of global reach, local knowledge, innovation
and technical excellence in delivering solutions that enhance and sustain the
world's built, natural and social environments. AECOM serves clients in more
than 60 countries and had revenue of $4.2 billion during fiscal year 2007.
More information on AECOM and its services can be found at www.aecom.com.
Forward-Looking Statements: All statements in this press release other
than statements of historical fact are "forward-looking statements" for
purposes of federal and state securities laws, including any statements of the
plans, strategies and objectives for the Libyan Housing and Infrastructure
Board capital budget program, our future operations and any statements
regarding future economic conditions or performance. Actual results could
differ materially from those projected or assumed in any of our
forward-looking statements. Important factors that could cause actual results
to differ materially from our forward-looking statements are set forth in our
annual report on Form 10-K for the fiscal year ended September 30, 2007, and
our other reports filed with the Securities and Exchange Commission. We do not
intend, and undertake no obligation, to update any forward-looking statement.
For further information:
For further information: AECOM Technology Corporation Paul Gennaro,
212-973-3167 SVP & Chief Communications Officer email@example.com