AECOM Technology wins contract worth $17.4 million, Stock surges 15%

California-based AECOM Technology Corporation has received an order worth US$ 17.4 million from Rayadah Investment Company, through AECOM's Tecsult subsidiary.

Under the arrangement, the company will review the King Abdullah Financial District Master Plan and design the infrastructure for a 160-hectare site in Saudi Arabia, which is envisioned to become the Middle East's first new major financial district in the 21st century.

The 16-month contract includes validation and participation reviews of the master plan and detailed infrastructure design for roads and parking, systems for fire-fighting, storm water drainage and solid waste management; networks of sewage treatment and sanitary sewage, potable water supply, the supply and distribution of electricity and natural gas; as well as irrigation, pumping stations and other related facilities.

AECOM Technology Corporation provides professional technical and management support services to government and commercial clients worldwide. The company employs 43,000 persons worldwide.

Shares of AECOM rose $2.42, or 15 percent, to $19 in Tuesday morning trading. The 52-week share price range is $21.78 to $11.65.