Tetra Tech Pockets £60M Contract From Scottish Water For Water Utility Management - Tetra Tech (NASDAQ:TTEK)

Engineering services provider Tetra Tech Inc TTEK said Scotland's publicly owned water utility, Scottish Water, has awarded a £60 million contract.
The single-award contract is to provide comprehensive asset management services.
Under the eight-year contract, Tetra Tech will inspect, analyze, and report on the condition of more than 2,500 assets annually, focusing on developing digital solutions to optimize the collection and analysis of data.
This will enable Scottish Water to better understand deterioration rates and help prioritize future maintenance and investment decisions for their water utility assets.
Scottish Water delivers water and wastewater services across Scotland through 60,000 miles of pipes and more than 2,000 treatment works.
Price Action: TTEK shares are trading higher by 5.93% at $145.62 on the last check Thursday.