Financial News
AECOM selected to deliver a new strategic road linking Lantau Island and Tsing Yi in Hong Kong
AECOM (NYSE: ACM), the world’s trusted infrastructure consulting firm, today announced that it has been selected by the HKSAR Government Highways Department to deliver the Tsing Yi – Lantau Link (TYLL), a new strategic road linking Lantau Island and Tsing Yi aimed at increasing capacity and accommodating future traffic demand from the Northern Metropolis development.
Well-designed transportation infrastructure is vital to the success of any new town. “We are excited to leverage our world class technical excellence in delivering innovative, technology-enabled long-span and specialty bridge solutions on this impactful project. This work builds on our extensive experience in roadway projects and will further strengthen the resilience of Hong Kong’s road network,” said Ian Chung, chief executive of AECOM’s Asia region.
The TYLL will offer an alternative route to the Lantau Link for vehicles commuting between the Northwest New Territories (NWNT) and urban areas. It will connect the proposed North Lantau Interchange and Tsing Yi Connection, comprising two long-span bridges crossing Ma Wan Fairway and Kap Shui Mun Fairway. Together with Route 11 and other relevant major roads, the TYLL will form a network of strategic roads to improve the conditions of traffic in and near the NWNT while also increasing the route options for the commuter traffic on Lantau Island and surrounding urban areas.
AECOM’s multidisciplinary team includes international experts in their fields, and will coordinate civil and geotechnical engineering, landscaping, road and drainage systems, electrical and mechanical engineering, traffic control and surveillance systems, roadside equipment, and environmental mitigation measures to deliver design and project supervision for the long-span bridges.
With phased commissioning planned through 2033, the TYLL will help deliver economic benefits by improving mobility to and from Hong Kong International Airport and the Hong Kong - Zhuhai - Macao Bridge. It will also prove critical to the Northern Metropolis development in Hong Kong’s northern New Territories, which will transform the northern part of Hong Kong into a thriving metropolitan area. In addition to the TYLL, AECOM is delivering several of other projects to support the Northern Metropolis development, which include master planning, engineering and design services for critical infrastructure. AECOM was selected by the HKSAR Government Highways Department in May 2023 to deliver the TYLL.
About AECOM
AECOM (NYSE: ACM) is the world’s trusted infrastructure consulting firm, delivering professional services throughout the project lifecycle – from advisory, planning, design and engineering to program and construction management. On projects spanning transportation, buildings, water, new energy and the environment, our public- and private-sector clients trust us to solve their most complex challenges. Our teams are driven by a common purpose to deliver a better world through our unrivaled technical and digital expertise, a culture of equity, diversity and inclusion, and a commitment to environmental, social and governance priorities. AECOM is a Fortune 500 firm and its Professional Services business had revenue of $13.1 billion in fiscal year 2022. See how we are delivering sustainable legacies for generations to come at aecom.com and @AECOM.
Forward-Looking Statements
All statements in this communication other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, strategic value creation, risk profile and investment strategies, and any statements regarding future economic conditions or performance, and the expected financial and operational results of AECOM. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include, but are not limited to, the following: our business is cyclical and vulnerable to economic downturns and client spending reductions; limited control over operations that run through our joint venture entities; liability for misconduct by our employees or consultants; failure to comply with laws or regulations applicable to our business; maintaining adequate surety and financial capacity; potential high leverage and inability to service our debt and guarantees; ability to continue payment of dividends; exposure to political and economic risks in different countries, including tariffs; currency exchange rate and interest fluctuations; retaining and recruiting key technical and management personnel; legal claims; inadequate insurance coverage; environmental law compliance and adequate nuclear indemnification; unexpected adjustments and cancellations related to our backlog; partners and third parties who may fail to satisfy their legal obligations; AECOM Capital real estate development projects; managing pension cost; cybersecurity issues, IT outages and data privacy; risks associated with the expected benefits and costs of the sale of our Management Services and self-perform at-risk civil infrastructure, power construction and oil and gas construction businesses, including the risk that any contingent purchase price adjustments from those transactions could be unfavorable and result in lower aggregate cash proceeds and any future proceeds owed to us under those transactions could be lower than we expect; as well as other additional risks and factors that could cause actual results to differ materially from our forward-looking statements set forth in our reports filed with the Securities and Exchange Commission. Any forward-looking statements are made as of the date hereof. We do not intend, and undertake no obligation, to update any forward-looking statement.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230824577548/en/
Contacts
Media Contact:
Brendan Ranson-Walsh
Senior Vice President, Global Communications
1.213.996.2367
Investor Contact:
Will Gabrielski
Senior Vice President, Finance, Treasurer
1.213.593.8208
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.