Jacobs Wins EPCM Contract for Oyu Tolgoi Underground Project
June 07 2016 - 8:00PM
Business Wire
Jacobs Engineering Group Inc. (NYSE:JEC) announced today it
signed a contract with Oyu Tolgoi LLC to provide engineering,
procurement and construction management (EPCM) services for the
next stage in the development of the Oyu Tolgoi copper and gold
mine in Mongolia, the Oyu Tolgoi Underground Project.
The Oyu Tolgoi mine is located in the South Gobi region of
Mongolia, approximately 550 kilometers south of the capital
Ulaanbaatar. The investment by Rio Tinto, the Government of
Mongolia and Turquoise Hill Resources was approved in May, and
necessary permits have been formally granted.
Jacobs is responsible for EPCM services to implement the
materials handling systems for the new underground mine and
associated surface and underground infrastructure. The project is
being delivered over a five- to seven-year period and is expected
to provide substantial employment and business opportunities in
Mongolia.
In making the announcement, Jacobs President and CEO Steve
Demetriou said, “We are very proud to be associated with what is a
landmark project for Oyu Tolgoi, Mongolia and the global mining
landscape. The Oyu Tolgoi Underground Project is one of the largest
mining projects worldwide. We are excited at the opportunity to
contribute significant value to our client and the nation of
Mongolia.”
First draw bell production from the underground mine is expected
in 2020.
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 2015 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.Mendi Head,
626.683.6227mendi.head@jacobs.com
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