The U.S. Agency for International Development (USAID) has awarded AECOM Technology (NYSE:ACM) a $110 million contract to provide services to USAID's Viable Support to Transition and Stability (VISTAS) program in South Sudan, the company announced this week.
The program is designed to support South Sudan citizens as they continue to rebuild following the country's 2011 independence from the Republic of Sudan. Under the terms of the contract, AECOM will provide USAID with services to help citizens and the government mitigate conflict and participate in political and peace processes, among other things. The program is expected to take five years to carry out.
John Dionisio, AECOM's Chairman and CEO, said in the company's press release that the company is "excited by the opportunity to help create further stability for the people of South Sudan," adding that "AECOM's previous conflict-mitigation experience on various USAID-funded programs in the area since 2007 positions us well to make the VISTAS program a success."
AECOM has seen its price per share increase by 28.8%, from $23.80 to $30.66, since the start of 2013. The technical and management support provider has also seen a 58% increase in annual revenue, bringing in $8.2 billion in 2012.
Fool contributor Caroline Bennett has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.