Jacobs Awarded Contract for California High Speed Rail
July 21 2015 - 7:45AM
Business Wire
Jacobs Engineering Group Inc. (NYSE:JEC) announced today that it
was awarded a contract to provide design services for the
Construction Package 2-3 (CP 2-3) of the California High Speed
Rail, which represents the continuation of construction on the
California high-speed rail system south towards Kern County. Jacobs
is the lead designer for the Dragados-Flatiron Joint Venture for
the design-build contract and is responsible for the infrastructure
design.
Officials estimate the construction value to be $1.2
billion.
The California High Speed Rail is the first true high-speed rail
being constructed in the United States, with operating speeds of up
to 220 miles per hour. The ultimate program stretches from San
Diego to San Francisco and includes connections in major cities
along the alignment such as Los Angeles, Burbank, Palmdale,
Bakersfield, Fresno and a spur to Sacramento.
The CP 2-3 is expected to provide 65 miles of infrastructure
improvements required for the future high-speed rail (HSR),
including over 10 million yards of new HSR embankment, 23 HSR
structures and 32 new roadway grade separations. The project covers
a 65-mile portion of the 120-mile initial construction segment,
which will be used as a test track for vehicles before being put
into service.
In making the announcement, Jacobs Group Vice President Randy
Pierce stated, “This project is one of the largest in the state’s
history and, once completed, should provide the traveling public
with a fast, clean alternative stretching from Southern to Northern
California.”
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 2013 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.Robin Shermer, 817-735-6284
Jacobs Engineering (NYSE:JEC)
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