Parsons Venture Wins $665 Million Contract Extension for Hudson Tunnel Project-January 2024-www.financetom.com

Parsons Venture Wins $665 Million Contract Extension for Hudson Tunnel Project

News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities

Parsons Venture Wins $665 Million Contract Extension for Hudson Tunnel Project

Sep 30, 2025 2:25 PM

04:42 PM EDT, 09/30/2025 (MT Newswires) -- Parsons (PSN) and its joint venture partners, UK-based Mace and Arcadis (ARCAD) of the Netherlands, won a $665 million, 4.5-year contract extension from the Gateway Development Commission to continue managing the Hudson Tunnel Project.

The project is on schedule for the new Gateway Tunnel completion in 2035, and the existing tunnel's rehabilitation by 2038, MPA Delivery Partners, the joint-venture company, said Tuesday in a statement.

The project involves building a new two-tube rail tunnel and upgrading a 115-year-old structure, enhancing Northeast Corridor reliability for NJ Transit and Amtrak between New York and New Jersey.

Previous page： Big Deal: Understanding SPAC dynamics Next page： Ircon expects to settle pending claims in upcoming fiscal, FY21 revenue at Rs 5,000 crore

Comments

Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.

Show More Comments

Related Articles >

Big Deal: Understanding SPAC dynamics

Mar 4, 2021

Given the interest in Special Purpose Acquisition Companies (SPAC) listings by Indian companies to capture the rich valuations and to make use of the window of equity upside globally, CNBC-TV18’s special show, Big Deal, gets you the global perspective to prepare better for this opportunity as many Indian companies explore this idea. Bank of America's Ray Wood, Investor - Edward Lees of BNP Paribas Asset Management and Adam Farlow of Baker McKenzie discussed this.

Ircon expects to settle pending claims in upcoming fiscal, FY21 revenue at Rs 5,000 crore

Mar 4, 2021

MK Singh, director of finance at Ircon International, on Thursday said that the revenue for FY21 is seen at around Rs 4,800-5,000 crore. He also said that the orderbook, as on date, stands at around Rs 33,000 crore.

Asset growth at NBFCs, HFCs to jump in FY22: Ind Ra report

Mar 4, 2021

After a growth moderation in FY21, NonBank Finance Companies (NBFCs) are estimated to witness a 9.5 per cent jump in their assets under management in FY22, a report said on Thursday. Housing Finance Companies (HFCs) will post a higher growth at 10 per cent as home sales go up, India Ratings and Research said, maintaining its "stable" outlook on both NBFCs and HFCs for FY22.

Will be able to see order inflow of Rs 9,000 crore: Kalpataru Power

Mar 4, 2021

Kalpataru Power has bagged new projects worth around Rs 1,550 crore. The order win is from India and Latin America in the power transmission business.