AECOM-led joint venture to deliver critical rail improvements along Amtrak’s Northeast Corridor

December 23, 2024 at 06:55 AM EST

The Company’s joint venture with STV will provide project management services for the Sawtooth Bridges Replacement Project in New Jersey

AECOM (NYSE: ACM), the trusted global infrastructure leader, today announced that an AECOM-led joint venture with STV has been selected by Amtrak to provide project management services for the Sawtooth Bridges Replacement Project, a key component of the Gateway Program that aims to address state of good repair needs and double passenger train capacity on the most congested 10-mile section of the Northeast Corridor (NEC).

The Sawtooth Bridges were originally constructed in 1907 and serve as a critical link in the NEC, supporting more than 400 daily trains operated by Amtrak and NJ TRANSIT over tracks used by NJ TRANSIT, PATH and Conrail freight trains. Their age and structural deficiencies limit train speeds to 60 mph, creating bottlenecks that impact rail operations for intercity and commuter services. The project will deliver three new bridges along a 1.9-mile corridor in Kearny, N.J., between Newark Penn Station and Secaucus Junction

“We’re proud to continue our long-standing partnership with Amtrak by supporting this crucial transit upgrade, which is part of an array of generational federal investments in the nation’s rail infrastructure,” said Mark Southwell, chief executive of AECOM’s global Transportation business. “Our track record of success on numerous NEC bridge replacement projects prepares us to deliver safe, reliable and resilient rail connectivity that meets both current and future demands on the NEC.”

The AECOM-led joint venture will utilize a multi-phased alternative delivery approach to implement project planning and oversee delivery of the upgraded and new structures. As project manager, the venture will oversee design coordination and manage interactions with railroads, utilities, and third parties. The team consists of multi-disciplinary engineers specializing in civil, geotechnical, structural, and environmental engineering.

“We look forward to leveraging our extensive transportation resources, site knowledge, and experience with large-scale projects along the NEC to deliver innovative solutions that enhance rail reliability,” said Bane Gaiser, chief executive of AECOM’s U.S. East and Latin America region. “As Engineering News-Record's top Mass Transit and Rail firm, we are excited to support Amtrak in upgrading its tracks and bridges, improving connectivity along one of the world’s busiest transportation corridors.”

Funding from the Federal Railroad Administration has enabled Amtrak to advance several megaprojects along the NEC aimed at modernizing critical infrastructure, improving station facilities, and supporting future ridership growth. Among these funded projects, AECOM is involved in the Frederick Douglass Tunnel Program, the Connecticut River Bridge Replacement and the Susquehanna River Rail Bridge Project.

About AECOM

AECOM (NYSE: ACM) is the global infrastructure leader, committed to delivering a better world. As a trusted professional services firm powered by deep technical abilities, we solve our clients’ complex challenges in water, environment, energy, transportation and buildings. Our teams partner with public- and private-sector clients to create innovative, sustainable and resilient solutions throughout the project lifecycle – from advisory, planning, design and engineering to program and construction management. AECOM is a Fortune 500 firm that had revenue of $16.1 billion in fiscal year 2024. Learn more at aecom.com.

Forward-Looking Statements

All statements in this communication 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 future operations, profitability, strategic value creation, capital allocation strategy including stock repurchases, risk profile and investment strategies, and any statements regarding future economic conditions or performance, and the expected financial and operational results of AECOM. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include, but are not limited to, the following: our business is cyclical and vulnerable to economic downturns and client spending reductions; potential government shutdowns or other funding circumstances that may cause governmental agencies to modify, curtail or terminate our contracts; losses under fixed-price contracts; limited control over operations that run through our joint venture entities; liability for misconduct by our employees or consultants; failure to comply with laws or regulations applicable to our business; maintaining adequate surety and financial capacity; potential high leverage and inability to service our debt and guarantees; ability to continue payment of dividends; exposure to political and economic risks in different countries, including tariffs, geopolitical events, and conflicts; currency exchange rate and interest fluctuations; retaining and recruiting key technical and management personnel; legal claims; inadequate insurance coverage; environmental law compliance and adequate nuclear indemnification; unexpected adjustments and cancellations related to our backlog; partners and third parties who may fail to satisfy their legal obligations; managing pension costs; AECOM Capital real estate development projects; cybersecurity issues, IT outages and data privacy; risks associated with the benefits and costs of the sale of our Management Services and self-perform at-risk civil infrastructure, power construction and oil and gas businesses, including the risk that any purchase adjustments from those transactions could be unfavorable and result in any future proceeds owed to us as part of the transactions could be lower than we expect; as well as other additional risks and factors that could cause actual results to differ materially from our forward-looking statements set forth in our reports filed with the Securities and Exchange Commission. Any forward-looking statements are made as of the date hereof. We do not intend, and undertake no obligation, to update any forward-looking statement.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241223028733/en/

Contacts

Media Contact:

Brendan Ranson-Walsh

Senior Vice President, Global Communications

1.213.996.2367

Brendan.Ranson-Walsh@aecom.com

Investor Contact:

Will Gabrielski

Senior Vice President, Finance, Treasurer

1.213.593.8208

William.Gabrielski@aecom.com

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AECOM-led joint venture to deliver critical rail improvements along Amtrak’s Northeast Corridor

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