06:50 AM EST, 11/13/2024 (MT Newswires) -- Stantec ( STN ) , a global player in design and engineering, was at last look up 2.6% in US premarket trade Wednesday amid news that it -- along with design-build partners general contractor Hensel Phelps, and architect Jones Studio -- has been awarded a US$274.7 million contract by the U.S. General Services Administration (GSA) for a new commercial inspection port along the Mexico border in Douglas, Arizona.

According to a statement, the port will increase capacity and facilitate "lawful" trade and travel between the US and Mexico.

Stantec ( STN ) said it will provide transportation infrastructure, site/civil engineering, utilities engineering, and surveying, as well as architecture and sustainability consulting services on this major port of entry project. Jones Studio will serve as the design excellence architect.

As a critical infrastructure development project, the GSA is receiving $180.3 million in Infrastructure Investment and Jobs Act (IIJA) funding and $92.2 million from the Inflation Reduction Act (IRA). In addition, the project includes subcontracting goals reflecting GSA's commitment to creating more opportunities for small businesses.

"Major commercial port of entries are vital infrastructure projects that support freight and traveler movement as well as local and cross-border economic growth," said Gord Johnston, president and CEO, Stantec ( STN ). "This project is a great example of how federal funding from IIJA and IRA is supporting critical infrastructure projects across the US.."

STN was down less than 1% on the TSX yesterday.