Parsons Secures $1.5 Bln Environmental Services Contract From Air Force Civil Engineering Center

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(RTTNews) - Parsons Corp.(PSN), a provider of technology-driven solutions, on Monday announced that it was awarded a task order contract by the Air Force Civil Engineering Center or AFCEC to provide architectural and engineering services. The contract is for $1.5 billion with a five-year base period initially.

Shares of Parsons are increasing in the pre-market trading.

The contract services include environmental issues, emerging contaminants such as per- and polyfluoroalkyl substances

The contract also lasts with the option to extend it for five more years, one year at a time. In addition, there is also an extra option to extend it for another six months.

Under this contract, Parsons will be able to compete for task orders to help with environmental issues, including restoration and compliance, conservation and planning and programming, emerging issues and contaminants and quality and other areas of essential support.

The task order will be completed at United States Air Force installations worldwide and for other federal clients such as the Defense Logistics Agency and NASA.

In the pre-market trading, Parsons is 3.42% higher at $66.82 on the New York Stock Exchange.