KBR Awarded $145M Contract
Recently, KBR Inc. (KBR) announced that it has received a contract from VicRoads, a state government agency in Victoria, Australia,for a road and rail project. In an alliance agreement between John Holland, Metro Trains Melbourne and Public Transport Victoria, KBR procured the contract worth $145 million. As per the terms of the contract, KBR will provide engineering and design services for the Mitcham Road and Rooks Road Rail Separation Project located in Victoria, Australia.
KBR is a leading global engineering, construction and services company offering a wide range of civil and government infrastructure, and technological services through its multiple business segments. In this rail and road project, KBR will be providing preliminary and detailed designing services. In addition, KBR will also be helping with its highly experienced technical advices during the construction work.
The project plan aims at replacing approximately 1.8 k.m rail tracks along with the construction of a new premium station. John Holland will be assuming the responsibilities of the construction work. This long-term improvement project work will also involve grade separation of Rooks and Mitcham roads from the railway.
Since the last reported quarter, contracts have been pouring in for KBR. The company received a number of multi-million contracts including the recent construction services contract from INVISTA and the design-build contract for new aircraft manufacturing facility by Triumph Aerostructures. With this steady inflow of new orders, the company is expected to report a growth in revenue and margins in the coming quarters.
KBR currently holds a Zacks Rank #3 (Hold). Other stocks worth a look in the services sector are Michael Baker Corporation (BKR), holding a Zacks Rank #1 (Strong Buy), Harris & Harris Group, Inc. (TINY) and Quanta Services, Inc. (PWR) carrying a Zacks Rank #2 (Buy) each.
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