Jacobs Wins Contract with InoChem in Saudi Arabia
June 16 2015 - 7:45AM
Business Wire
Providing Project Management Consultancy for
Second Phase of Giant Industrial Complex
Jacobs Engineering Group Inc. (NYSE:JEC) announced today it was
awarded the second phase of InoChem’s project management
consultancy (PMC) services contract to undertake, among other
important activities, the development of its soda ash and calcium
chloride manufacturing complex in Yanbu Industrial City, Saudi
Arabia.
Under the terms of the agreement, Jacobs is providing PMC
services during all phases of the project. The services are being
led and closely supervised by Jacobs’ Al-Khobar office, with work
being executed out of multiple locations around the world and
specialist support from its offices in Shanghai, Abu Dhabi and
Antwerp.
InoChem is the first manufacturer of soda ash in Saudi Arabia
and the Cooperation Council for the Arab States of the Persian Gulf
region, as well as the biggest manufacturer of calcium chloride in
the Middle East and North Africa (MENA) region.
In making the announcement, Abdul Aziz Yahya Al-Muaiyyad,
Managing Director and Chief Executive Officer of IDEA Soda Ash
& Calcium Chloride Co. (ISACC), said the signing is just
another important milestone in the overall development of the
project progressing on time and on track. “We are delighted to
continue working with Jacobs on our manufacturing complex in Yanbu
Industrial City, where we are building one of the Kingdom’s
strategic projects to diversify economy and reduce dependence on
oil exports. Not only will the project contribute to industry
developments through supplying its products to a number of
downstream manufacturing projects, it will also contribute to
achieving a Saudization rate of up to 75 percent of the total
workforce,” he said.
Jacobs’ Group Vice President Bassim Shebaro stated, "Jacobs has
been involved with the InoChem project since commencing work on the
concept phase, and we are proud to have been selected to continue
our work on one of the most strategic projects in the Kingdom.” He
added, “Our services are being led from our Saudi operations, which
further demonstrates our commitment to Saudization through the
recruitment, training and development of local Saudi talent, in
line with InoChem priorities.”
ISACC is a Saudi limited liability company based in Al-Khobar,
Saudi Arabia. ISACC is leading the development and establishment of
InoChem (Saudi joint stock company) to own, build and operate the
industrial complex. The industrial complex operations are planned
to commence in 2018.
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.
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Jacobs Engineering Group Inc.Michelle Jones, 626-578-6968
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