Benzinga | Oct 12, 2021 03:40PM EDT

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

* Parsons Corp (NYSE: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.