Providing Project Management Consultancy for Second Phase of Giant
Industrial Complex
PASADENA, Calif.--(BUSINESS WIRE)--
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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Source: Jacobs Engineering Group Inc.