CENTREVILLE, Va., Nov. 18, 2020 /PRNewswire/ -- Parsons Corporation (NYSE: PSN) announced today that the company was recognized with a Gold Award for Infrastructure by the Canadian Council for Public-Private Partnerships. The award honors outstanding achievements in public-private partnerships (P3s) for Parsons' work as part of the Regina Bypass partner team.
The Regina Bypass Project, completed in October 2019, was the largest transportation infrastructure project in Saskatchewan's history, and the first to use the P3 delivery model in the province. The award recognizes the project delivery team for effective risk allocation, reduced cost compared to a traditional procurement model and significant community benefits including improved safety and local investment in the project delivery.
"Parsons is proud to be part of the Regina Bypass team, which delivered this complex project on-time and on-budget," said Mark Fialkowski, executive vice president, Mobility Solutions at Parsons. "Utilizing the P3 model allowed the province of Saskatchewan to leverage the expertise and experience of companies like Parsons, while saving millions of dollars and completing the project years ahead of what would have otherwise been possible."
In addition to Parsons, partners on the project included the Saskatchewan Ministry of Highways & Infrastructure, Saskbuilds and Regina Bypass Partners, VINCI Concessions S.A.A., Graham Capital LP, Carmacks Enterprises Ltd., VINCI Construction Terrassement and Graham Infrastructure LP.
The Canadian Council National Awards for Public-Private Partnerships were established in 1998 to honor governments and/or public institutions and their private sector partners who have demonstrated excellence and innovation in public-private partnerships. The awards are presented annually to showcase Canadian excellence and innovation in project financing, service delivery, infrastructure investment and/or generation of economic benefit, which result in enhanced quality of public services and facilities.
Parsons (NYSE: PSN) is a leading disruptive technology provider in the global defense, intelligence, and critical infrastructure markets, with capabilities across cybersecurity, missile defense, space, connected infrastructure, and smart cities. Please visit parsons.com, and follow us on LinkedIn and Facebook to learn how we're making an impact.
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SOURCE Parsons Corporation