Jacobs Secures Indian Contract - Analyst Blog
August 30 2012 - 2:09PM
Zacks
Jacobs Engineering Group (JEC) recently
announced that it has received a contract from an Indian company,
RSPL Limited. Per the contract, Jacobs will provide engineering
services for the new greenfield soda ash plant in Gujarat, India.
The contract is in line with the company’s commitment toward
investing more and expanding its client base in India.
Jacobs will deliver detailed engineering, project management,
procurement and construction supervision services for RSPL’s
project, holding a capacity of producing 500,000 tons of light soda
ash per year. About half of the above production capacity holds
promise of conversion to dense soda ash. The contract spans for
three years but the financial details remained undisclosed.
Allyn Taylor, Vice President of Jacobs Group appreciated RSPL’s
confidence on Jacobs and expressed their commitment to deliver
superior value to the esteemed client. The project, he believes,
will help expand Jacobs’ capabilities across the growing business
sectors throughout India.
Jacobs is anticipated to capitalize on growth opportunities in
the emerging markets, especially in China and India. The company’s
relationship-based business model positions it to benefit from the
improvement in capital budgets among clients.
Also, the backlog trend driven by solid new contract wins looks
favorable for enhancing Jacobs’ competitive edge against peers like
Fluor Corporation (FLR) and Foster Wheeler
AG (FWLT).
Jacobs is the world's largest and most diverse provider of
technical, professional, and construction services. We currently
maintain a Neutral recommendation on Jacobs. The stock also carries
a Zacks #2 Rank, which implies a short-term (1-3 months) Buy
rating.
FLUOR CORP-NEW (FLR): Free Stock Analysis Report
FOSTER WHELR AG (FWLT): Free Stock Analysis Report
JACOBS ENGIN GR (JEC): Free Stock Analysis Report
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