Jacobs Providing EPCM Services for Sadara Chemical Company
May 12 2015 - 7:45AM
Business Wire
Jacobs Engineering Group Inc. (NYSE:JEC) announced today that it
was awarded a four-year contract by Sadara Chemical Company
(Sadara) for engineering, procurement and construction management
(EPCM) services. The contract value was not disclosed.
Sadara is currently building the world’s largest chemical
complex to ever be constructed in a single phase, with 26 world
scale manufacturing plants, in Jubail Industrial City II, Saudi
Arabia.
Under the terms of the contract, Jacobs is providing both
In-Kingdom and Out-of-Kingdom EPCM services to Sadara. The
In-Kingdom services are being delivered from Jacobs’ local
operations in Saudi Arabia with support from its extensive global
network.
In making the announcement, Jacobs Group Vice President Bassim
Shebaro stated, “We are proud to deepen our relationship with
Sadara, which began in 2011. Since then, we have developed a
strategic business relationship built on value, trust, partnership
and commitment.”
Established in October 2011, Sadara is a joint venture developed
by Saudi Arabian Oil Company (Saudi Aramco) and The Dow Chemical
Company (Dow). With a total investment of about $20 billion, Sadara
is building a world scale integrated chemical complex with 26
manufacturing plants and over three million metric tons of capacity
per year. Sadara’s differentiated product portfolio, employing
cutting-edge technologies, will add downstream value chains to
expand and transform the Kingdom of Saudi Arabia’s existing
chemicals landscape. Sadara will introduce many new products to
Saudi Arabia, including the first isocyanate and polyol
(polyurethane) plants, enabling many industries that either do not
currently exist in the Kingdom or only exist through imports of raw
materials.
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 2014 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 Jones626-578-6968
Jacobs Engineering (NYSE:JEC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Jacobs Engineering (NYSE:JEC)
Historical Stock Chart
From Jul 2023 to Jul 2024