PASADENA, Calif.--(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.
Source: Jacobs Engineering Group Inc.