Jacobs Receives Contract Extension from Marafiq in Saudi Arabia
October 02 2012 - 7:45AM
Business Wire
Jacobs Engineering Group Inc. (NYSE:JEC) announced today that it
received a one-year contract extension from Saudi Arabian utility
company Marafiq to continue providing project management contractor
(PMC) services for its ongoing investment program in The Kingdom of
Saudi Arabia.
Officials did not disclose the contract value.
Jacobs provides PMC services for a number of projects in Jubail
and Yanbu industrial cities. The work includes conceptual design,
front-end engineering, tender support, construction/commissioning
supervision and other services necessary for successful capital
program delivery. Projects involve expansions, upgrades and
installations of wastewater treatment plants, desalination plants
and electrical power generation facilities. Jacobs is performing
the work on-site with support from its offices in Al Khobar, Saudi
Arabia; Winnersh, United Kingdom; and Mumbai, India.
In making the announcement, Jacobs Group Vice President Mike
Coyle stated, “Jacobs continues to grow in Saudi Arabia and Marafiq
is an important part of that growth. We are fully committed to
building a fully self-sufficient, In-Kingdom capability in Saudi
Arabia.”
Marafiq management stated, “This contract extension is
recognition by Marafiq of the excellent support being extended to
Marafiq by the Jacobs team in the execution of Marafiq projects. We
recognize the value brought to our business through long-term
relationships with companies like Jacobs.”
Marafiq's core business is the development, operation and
maintenance of power and water treatment systems to provide
essential utility services for the industrial cities of Jubail and
Yanbu in Saudi Arabia.
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 2011 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.
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