Tetra Tech Inc.(TTEK) announced that it has received an Indefinite Delivery-Indefinite Quantity (“IDIQ”) contract worth $216 million from the U.S. Agency for International Development (“USAID”). The contract involves aiding the implementation of USAID’s Afghanistan-based project – PROMOTE – a five-year program designed for promotion of gender equity in the region.
As part of this contact, Tetra Tech would initially provide services in collaboration with Afghan partners and USAID for imparting advanced leadership development skills to women, so as to enhance their opportunities in the public, private and civil service sectors. The task order worth $42 million will be conducted in all major cities of the country which will act as hubs for reaching people across all provinces.
USAID will be contributing $216 million to the program, while another $200 million is expected to be raised from other donors. PROMOTE is basically designed to extend the U.S. and Afghan Governments’ efforts over the past 11 years for educating and strengthening women, and providing them with opportunities to participate in the working of the economy.
Currently, Tetra Tech has a Zacks Rank #3 (Hold). Better-ranked stocks that can be considered at the moment include Progressive Waste Solutions Ltd. (BIN), CECO Environmental Corp. (CECE) and Heritage-Crystal Clean, Inc. (HCCI). While Progressive Waste Solutions sports a Zacks Rank #1 (Strong Buy), both CECO Environmental and Heritage-Crystal Clean carry a Zacks Ranks #2 (Buy).
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