Flatiron, the civil engineering subsidiary of Hochtief (ACS), has won two contracts valued at a combined $375 million (approximately 345 million euros), related to infrastructure for climate resilience and adaptation. These two projects are aligned with the company's corporate strategy of forging lasting relationships and obtaining projects that present a balance between risk and opportunity, facilitating closer collaboration with clients.
On the one hand, in an effort to strengthen infrastructure in the face of climate challenges, Flatiron will take on a major project in Virginia Beach, Virginia. With a budget of $275 million (about €253 million), the project seeks to install a flood protection system that will also improve drinking water supply. This plan is designed to optimise stormwater management, safeguard freshwater sources and mitigate flooding in residential areas such as Windsor Woods, Princess Anne Plaza and The Lakes, thereby protecting valuable urban resources.
The project will include the implementation of advanced pumping stations, tide gates to reduce the effects of flooding and flood barriers, as well as improvements to drainage channels for more effective water management.
On the other hand, the U.S. Army Corps of Engineers has selected Flatiron to strengthen storm protection in Port Arthur, Texas, under a $102 million (approximately €92 million) contract. This project is focused on upgrading local pumping stations to provide robust defense against storm surges and sea level rise, critical elements for the security of this vital region for the energy industry.
Work on this project will include the construction of earth dikes, the renovation of concrete retaining walls, the strengthening of existing dikes, and the upgrading of critical infrastructure near the pumping stations.
The award of both projects demonstrates that resiliency has become an important market for Flatiron, which adds these important projects in Virginia and Texas to others already underway in New Jersey, with a comprehensive urban stormwater management strategy, or New York, expanding and improving public spaces for protection against sea level rise and increased storm intensity.
