Tetra Tech Inc. (TTEK), together with two others companies, received a contract worth $750 million for sustainable infrastructure development services from the U.S. Agency for International Development (USAID). The services will be provided for USAID’s water and energy projects in Afghanistan, with the aim of renovating and modernizing the country’s water and energy sectors.
The companies will provide architectural/engineering (A/E) services, technical assistance, and other support services for designing and construction work for the sector. The projects will improve water and energy availability and convenience in Afghanistan. Tetra Tech has worked on number of projects for the development of water supply, sanitation, and energy supply of Afghanistan, with the current multiple-award, indefinite quantity contract (IQC) being an addition to its efforts.
However, problems related to treatment and sanitation, wastewater management, water reuse and water resources management, watershed planning, design and construction of small irrigation dams, and design and construction of large multi-purpose reservoirs will be solved by the companies.
As per the contract, thermal, hydropower, solar, and wind energy generation projects are part of the energy work. Further, transmission and distribution, power imports, energy conservation and energy efficiency activities and other technical support for commercial energy functions in Afghanistan are also covered in the IQC.
Tetra Tech Inc. is a leading provider of consulting, engineering, program management, construction and technical services focusing on resource management and infrastructure. The company serves clients by providing cost-effective and innovative solutions to fundamental needs in areas like water, environmental and alternative energy resources. It typically begins at the earliest stage of a project by applying science to problems and developing solutions tailored to clients' needs and resources. Its solutions may span the project’s entire life cycle and include applied science, research and technology, engineering, design, construction management, construction, operations and maintenance, and information technology. The major competitors of Tetra Tech are Arcadis NV (ARCAY.PK), Shaw Group Inc. (SHAW) and URS Corporation (URS).
We currently maintain our Neutral rating on Tetra Tech Inc. with a Zacks #3 Rank (short-term Hold recommendation) over the next one-to-three months.
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