Parsons(US:PSN) Newsfilter·2024-07-26 10:30Core Insights - Parsons Corporation, in partnership with Vanir, has been awarded a $30 million contract for construction management and inspection services for the Sacramento International Airport's SMForward Program, which is part of a larger $1.3 billion airport improvement initiative [1][2]. Group 1: Project Overview - The SMForward Program is one of the largest capital improvement projects by the Sacramento County Department of Airports, aimed at enhancing convenience, comfort, and accessibility at Sacramento International Airport (SMF) to accommodate projected passenger growth [2]. - The scope of the joint venture includes construction management and inspection services for various projects, including a new parking structure, a Consolidated Rental Car Facility, additional gates at Terminals A and B, roadway improvements, and a passenger skywalk to Concourse B [2]. Group 2: Company Background - Parsons Corporation is recognized as a leading provider of disruptive technology in national security and global infrastructure markets, with expertise in areas such as cyber and intelligence, space and missile defense, transportation, and critical infrastructure protection [9]. - Vanir is a national leader in program, project, and construction management, providing a full range of services to both public and private sector clients across various markets, including aviation and transportation [3][8]. Group 3: Economic Impact - The Sacramento County Department of Airports oversees the operation and maintenance of four airports, with Sacramento International Airport offering over 155 daily nonstop flights to 36 destinations, contributing more than $4 billion annually to the regional economy [7].