MarketNewsUpdates.com News Commentary
As technology modernizes and advances, so does the need for bolstered infrastructure asset management. This is influencing the construction industry, as large and small firms are creating new revenue streams for various major projects as well as technologically-based services, including building security and infrastructure adaptations to smart capabilities. According to a recent report, the global infrastructure market totaled US$3.1 trillion in 2017, and is expected to reach US$4.4 trillion by 2022, growing (in nominal US$ terms) by 7.0% on an annual average basis, according to the Infrastructure Intelligence Center (InfraIC). The pace of growth in infrastructure construction output in advanced economies will average 4.8% a year on nominal US$ terms in 2018 – 2022. Growth in emerging markets will remain in excess of that in advanced economies over the forecast period, at 7.7% in nominal US$ terms. Active companies in the markets today include: Social Detention Inc. (OTC:SODE), AECOM (NYSE:ACM), Tutor Perini Corporation (NYSE:TPC), Fluor Corporation (NYSE:FLR), Jacobs Engineering Group Inc. (NYSE:JEC).
Social Detention Inc. (OTC:SODE) BREAKING NEWS: Social Detention recently announced that it has executed an agreement with DME Inc. to procure, perform and share profits on California Contracts. This partnership allows Social Detention Inc. to participate on proposals that are reserved for specific companies with certain classifications. The agreement is effective May 21, 2018.
The profit share is 50/50 and recognized as contract revenues are received. We anticipate the revenue for the next twelve months under this agreement to be $2-5m with profit of $600k to $1.5m and $5m to 10m in Year 2 with profit of $1.5m to $3m.
Robert Legg, President and CEO of Social Detention Inc., stated, “The execution of this agreement provides an additional stream of revenue that was not available to Social Detention Inc. We have already submitted several proposals under this agreement and expect to reap the rewards in the coming months. This agreement did not involve any cash or equity considerations so it will not affect profitability or authorized share structure. The combined entities offer an unmatched service offering in this space. Please note we are in negotiations to finalize similar agreements with other firms in the security and infrastructure space aggressively.” Read this full release and more news for Social Detention at: http://www.marketnewsupdates.com/news/sode.html
In other industry news and developments:
AECOM (NYSE:ACM) on Wednesday announced its JT4 Limited Liability Co. unit has been awarded a 15-year, $3.1 billion contract to provide the U.S. Air Force with range support services. “We are honored to continue our relationship with the U.S. Air Force and Navy, serving as their primary partner for range support services,” Aecom Chairman and Chief Executive Michael Burke said in a statement. “Leveraging our expanded capabilities and scale, this substantial award underscores the continued transformational backlog growth that we are driving in our Management Services business, our highest-margin segment.” With the contract, Aecom will continue to provide for operation, maintenance and sustainment of the western test and training ranges. Work will be performed at the 412th Test Wing, California; Utah Test and Training Range; Nevada Test and Training Range; the Naval Air Warfare Center Weapons Division, California; and the Space Test and Training Range, Colorado.
Tutor Perini Corporation (NYSE:TPC) recently announced three recent low bids for new civil projects totaling approximately $1 billion. The Company’s wholly-owned subsidiary, Lunda Construction, is the managing partner in a joint venture that was the low bidder for the Southwest Light Rail Transit project in Minneapolis with a bid of approximately $800 million. This major regional transportation project consists of a 14.5-mile extension of the METRO Green Line and involves construction of new light rail infrastructure, including 44 bridges, two cut-and-cover tunnels and 15 new stations. Another wholly owned subsidiary, Frontier-Kemper Constructors, was the low bidder for an approximately $109 million tunneling project in Los Angeles for the Los Angeles Department of Water and Power. Finally, Tutor Perini was the low bidder for the Rehabilitation of the Broadway Bridge over the Harlem River in New York City with a bid of approximately $93 million.
Fluor Corporation (NYSE:FLR) recently announced that its joint venture partnership with JGC was selected as the engineering, procurement and construction contractor for LNG Canada’s proposed liquefied natural gas (LNG) export facility in Kitimat, British Columbia, Canada. The award is conditional on a positive final investment decision later this year at which point Fluor will book its share of the contract value. “We thank LNG Canada for the opportunity to participate in developing the first world-class LNG facility in British Columbia,” said Jim Brittain, group president of Fluor’s Energy & Chemicals business. “Our team has developed an innovative design and execution strategy that improves the project’s competitiveness and predictability and positions it for a final investment decision.
Jacobs Engineering Group Inc. (NYSE:JEC) recently announced it has been appointed by Transport Infrastructure Ireland (TII) as Employer’s Designer for the development and implementation of Ireland’s first metro system, central to a new multi-modal transport strategy to support Dublin’s continued economic growth. Working collaboratively with the National Transport Authority (NTA) and TII, the Jacobs Idom consortium will take the scheme from emerging preferred route status through evaluation and selection of preferred route, including all business case and environmental support work. It will then develop and promote the scheme railway orders, execute the planning process through An Bord Pleanála and attend the subsequent oral hearing. Pending a successful oral hearing, the consortium will also lead the development of the contracting and delivery strategy and the construction delivery partner engagement. The team will then continue to support TII and NTA providing technical and commercial assurance throughout the construction delivery phase.
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