Parsons Secures Position On $249M Ceiling Naval Facilities Modernization Contract

Parsons Corp PSN and Colas UK Projects, operating as Parsons-Colas UKP JV, have secured a five-year, $249 million multiple-award IDIQ contract from the Naval Facilities Engineering Systems Command (NAVFAC) Far East.
The new award will support projects to improve resilience at various locations on the U.S. Navy Support Facility Diego Garcia (NSFDG), British Indian Ocean Territory (B.I.O.T.).
The contract will support new and ongoing renovation and modernization efforts that advance NSFDG's mission of logistically connecting forward-deployed operational forces in the Indian Ocean and Persian Gulf areas of responsibility for national policy objectives.
Price Action: PSN shares are trading higher by 1.51% at $34.94 on the last check Tuesday.