PASADENA, Calif., Jan. 4, 2011 /PRNewswire/ -- Jacobs Engineering
Group Inc. (NYSE: JEC) announced today that it received a contract
from Bechtel Marine Propulsion Corporation to provide engineering,
procurement and construction management (EPCM) services in support
of the Expended Core Facility Recapitalization Project.
The total construction project cost is estimated to range from
$300 to $500 million.
The project, located within the boundary of Idaho National
Laboratory, will support the Naval Reactors Facility (NRF) mission
in Idaho. It is anticipated
that construction for a new spent fuel handling facility would
begin in 2016 and the building would be operational in 2020.
In making this announcement, Jacobs CEO Craig Martin stated, "We are very pleased to
have been awarded this contract and to aid in supporting the U.S.
Navy's nuclear powered fleet."
Jacobs is one of the world's largest and most diverse providers
of technical, professional, and construction services.
Any statements made in this release that are not based on
historical fact are forward-looking
statements. Although such statements are based on
management's current estimates and expectations, and currently
available competitive, financial, and economic data,
forward-looking statements are inherently uncertain. We,
therefore, caution the reader that there are a variety of factors
that could cause business conditions and results to differ
materially from what is contained in 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 2010 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 also caution the readers of this release that
we do not undertake to update any forward-looking statements made
herein.
For additional information
contact:
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Michelle Jones
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626.578.6968
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http://photos.prnewswire.com/prnh/20090109/JACOBSEGLOGO)
SOURCE Jacobs Engineering Group Inc.