URS-Led Partnership Wins Contract to Manage the U.S. Department of Energy's Waste Isolation Pilot Plant
SAN FRANCISCO, Apr 20, 2012 (BUSINESS WIRE) -- URS Corporation (NYSE: URS) today announced that a URS-led partnership has been awarded a contract by the U.S. Department of Energy to manage and operate the Waste Isolation Pilot Plant (WIPP) near Carlsbad, New Mexico. Under the terms of the contract, the URS-Ied Limited Liability Company, Nuclear Waste Partnership LLC, will manage and operate WIPP beginning on October 1, 2012. The contract, which has a five-year term, with an additional five-year option period, has a value of approximately $1.3 billion to the partnership over the full 10-year period.
Nuclear Waste Partnership is a new company formed by the URS Corporation and Babcock & Wilcox Technical Services Group, Inc., with AREVA Federal Services LLC as the major subcontractor.
"We are very pleased that the Department of Energy has the confidence in our team to manage and operate WIPP," said Robert Zaist, President, Energy & Construction, URS Corporation. "URS is a leader in the management of nuclear and hazardous waste facilities for the DOE, and has provided management and operations services at the WIPP site since 1985. We look forward to continuing to perform this important work at WIPP for the DOE."
WIPP is the world's first underground repository certified for the safe and permanent disposal of transuranic radioactive waste, which is material contaminated with man-made radioisotopes that are heavier than uranium. In addition to managing the repository, which is located in a 2,150-foot-deep geologic salt formation, Nuclear Waste Partnership will coordinate the transportation of materials to WIPP and characterize incoming waste.
URS Corporation (NYSE: URS) is a leading provider of engineering, construction and technical services for public agencies and private sector companies around the world. The Company offers a full range of program management; planning, design and engineering; systems engineering and technical assistance; construction and construction management; operations and maintenance; information technology; and decommissioning and closure services. URS provides services for power, infrastructure, industrial and commercial, and federal projects and programs. Headquartered in San Francisco, URS Corporation has more than 46,000 employees in a network of offices in nearly 50 countries (www.urs.com).
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