PASADENA, Calif., Nov. 8, 2011 /PRNewswire/ -- Jacobs Engineering
Group Inc. (NYSE: JEC) announced today that it was awarded an
engineering, procurement and construction management (EPCM)
contract for the Chemicals 1 Envelope of Sadara Chemical Company, a
joint venture under formation between affiliates of The Dow
Chemical Company (Dow) and Saudi Arabian Oil Company (Saudi
Aramco).
Officials did not disclose the terms of the agreement, however
noted that the work is being performed by Jacobs' offices in
Manchester, UK; Mumbai, India and Al Khobar, Saudi Arabia.
Under the terms of the contact, Jacobs is providing front end
engineering design (FEED) and detailed engineering services, in
addition to procurement, inspection and delivery of equipment and
bulk materials, as well as the overall construction management.
This award is part of a world scale chemical project being
constructed in Jubail Industrial City in Saudi Arabia. Construction work on the project
has already started and is scheduled to be completed by early 2015.
Production from the first units is expected to begin in the second
half of 2015. The fully integrated complex is planned to consist of
26 chemical manufacturing units and be one of the largest of its
kind in the world.
In making the announcement, Jacobs Group Vice President
Bob Irvin stated, "We are delighted
to be a part of the Sadara project, which strategically brings
together the resources of Saudi Aramco and the technologies of
Dow."
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 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 do not undertake to update any forward-looking
statements made herein.
For additional information contact:
Michelle Jones
626.578.6968
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SOURCE Jacobs Engineering Group Inc.