Jacobs to Design Key Industrial Cities in Saudi Arabia for MODON

Jacobs Engineering Group Inc. (NYSE:JEC) announced today that it was awarded a two year framework agreement from Saudi Industry Property Authority (MODON) for design services to support the development of various industrial cities throughout Saudi Arabia.

Company officials did not disclose the contract value.

Under the terms of this contract, Jacobs is providing concept and detailed design services for at least three new industrial cities.

In making the announcement, Jacobs Group Vice President Bassim Shebaro stated, “We are delighted to be working with MODON on this important project to develop the infrastructure required to help expand and diversify the economy of Saudi Arabia. We look forward to supporting MODON’s goal to create a lasting and impactful development, by drawing upon our local and global expertise incorporating best practices in city planning, urban design, transportation planning, energy efficiency, and environmental standards.”

Established in 2001, MODON is responsible for the development of industrial cities throughout Saudi Arabia with integrated infrastructure and services. It is currently overseeing more than 30 existing and under-development cities across a total area of approximately 164 million square meters (63 square miles), including locations such as Riyadh, Jeddah and Dammam. Saudi Arabia’s developed industrial cities employ more than 350,000 workers.

Jacobs is one of the world's largest and most diverse providers of technical professional and construction services.

Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management’s current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our 2013 Form 10-K, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.

Jacobs Engineering Group Inc.Michelle Jones, 626.578.6968

Jacobs Engineering (NYSE:JEC)
Historical Stock Chart
From Mar 2024 to Apr 2024