Tetra Tech Inc. (TTEK - Analyst Report) recently announced that it has been awarded a $19.7 million contract to provide technical assistance to the U.S. Agency for International Development (USAID). The scope of the contract primarily involves providing public utility services in Haiti.
This is a single award contract with a term of five years. The contract will enable USAID to help the Haitian local governments deliver different public utility services including clean energy, clean water and sanitation.
TTEK is a leading provider of environmental services and helps in the development of clean energy solutions and drafts environment related public service policies.
As per the terms of the agreement, Tetra Tech will assist USAID in the latter’s efforts to increase revenues accruing to local governments of Haiti. The company will deploy its expertise to make sure that the services are sustainable in the long run. This program will not only help the local Government to use the central government funds, but will also improve the transparency and accountability by encouraging more involvement of the citizens. Apart from these direct benefits, the program is also expected to improve the legal structure for decentralized administration.
Earlier in Jan 2013, Tetra Tech was awarded a $350 million contract to provide technical assistance to the U.S. Agency for International Development (USAID) for a global clean energy development program. The company was also offered a $24 million contract to provide technical support for USAID’s trans-boundary water resources management and regional climate change adaptation program in East Africa.
Tetra Tech Inc. currently has a Zacks #3 Rank (Hold). The other companies that can also be considered at the moment are Clean Energy Fuels Corp. (CLNE - Snapshot Report) and Tyco International (TYC - Analyst Report) , both of which have a Zacks Rank #2.