Link Securities | Hochtief, a subsidiary of ACS, has taken a significant step forward in the US after signing a labour agreement (Project Labor Agreement) to develop the Battery Park City Resiliency Project, an infrastructure plan valued at $1.7 billion in New York, according to a report yesterday by the digital portal Bolsamania.com. The project, in which Hochtief is participating through SPC Construction, part of its Flatiron-Dragados division, together with Turner Construction, will be the first initiative in the city to use the progressive design-build model, a scheme that integrates design and construction under a single contract to improve efficiency and cost control.
The plan seeks to create an integrated coastal flood protection system in Battery Park City, with new infrastructure capable of covering risks arising from sea level rise, storms and extreme rainfall events. The work will proceed under the supervision of the Battery Park City Authority (BPCA), which has reached an agreement with New York construction unions to ensure sustainable wages, local hiring and the participation of minority-, women- and veteran-owned businesses.
