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SINGAPORE - Binnies Singapore and AECOM (NYSE:ACM), a prominent player in the Construction & Engineering industry with a market capitalization of $15.9 billion, have been appointed by PUB, Singapore’s National Water Agency, to deliver professional engineering services for the Phase 3 expansion of Changi Water Reclamation Plant, according to a press release statement. According to InvestingPro data, AECOM maintains a solid financial health score of 2.87, indicating strong operational capabilities for such major projects.
The expansion will increase the treatment capacity of one of the world’s largest used water treatment facilities by up to 96 million gallons per day. The plant is a key component of Singapore’s Deep Tunnel Sewerage System.
Under the contract, the joint venture will deliver preliminary design of the expansion works and conduct a cost-benefit analysis to determine the most effective design solution. The scope also includes engineering studies for future expansions, environmental studies, and detailed design and construction supervision.
"The project aims to increase the capacity of the used water treatment facility and improve its overall operational efficiency," said William Yong, Binnies Singapore Managing Director and Board Member of the joint venture.
Beverley Stinson, Chief Executive of AECOM’s Global Water Business, noted that the project will apply "cutting-edge water reuse and reclamation technologies" to the facility.
The expansion is expected to play a significant role in ensuring a sustainable water supply for Singapore once commissioned. The joint venture will focus on introducing advanced treatment technologies to enhance the site’s efficiency and space utilization.
Binnies Singapore is part of RSK Group, while AECOM reported revenue of $16.1 billion in fiscal year 2024, with a healthy return on equity of 28%. The companies did not disclose the financial terms of the contract or the expected completion date for the expansion project. Currently trading near its 52-week high, AECOM has received positive analyst coverage, with 9 analysts revising earnings estimates upward. InvestingPro offers 12 additional investment tips and comprehensive analysis for AECOM, available through their detailed Pro Research Report, which provides actionable insights for informed investment decisions.
In other recent news, AECOM has reported its fiscal third-quarter 2025 earnings, surpassing Wall Street expectations. The company announced an earnings per share (EPS) of $1.34, exceeding the forecasted $1.26. Additionally, AECOM’s revenue reached $1.94 billion, slightly above the anticipated $1.93 billion. In another development, AECOM has been appointed as the Project Management Consultant and engineer for Phase II of The Avenues - Riyadh, a $4 billion mixed-use development in Saudi Arabia. This project, developed by Shomoul Holding Company, covers 1.87 million square meters of built-up area and includes 370,000 square meters of leasable space. The Avenues - Riyadh will feature a luxury shopping mall and five towers with hospitality, commercial, and residential components. These recent developments highlight AECOM’s ongoing involvement in significant international projects and its ability to deliver strong financial performance.
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