PASADENA, Calif.--(BUSINESS WIRE)--
Jacobs
Engineering Group Inc. (NYSE:JEC) announced today that it was
awarded a two-year framework agreement from Saudi
Industry Property Authority (MODON) for supervision consultancy
services to support the development of three industrial cities in Saudi
Arabia.
Company officials did not disclose the contract value.
Under the terms of this contract, Jacobs is managing and supervising
several construction contracts for the development of three industrial
cities as part of multi-billion dollar investment into 40 industrial
cities, representing a total area of nearly 68 square miles (178 million
square meters) across the Kingdom. The construction works required
include various integrated infrastructure and services including roads,
water distribution, power and telecommunications. The goal of the
project is to support MODON’s mission of providing distinctive and
unique industrial cities and technology zones of the highest quality
throughout the Kingdom.
The contract further extends Jacobs’ long-term relationship with MODON
and builds on its current contracts to provide design services and
program management for other industrial cities as well as design
services.
In making the announcement, Jacobs Group Vice President Bassim Shebaro
stated, “We are delighted that our relationship with MODON continues to
grow. We look forward to supporting MODON through the provision of our
local and global program management and construction management
expertise, and supporting Saudi Arabia’s mission of achieving a
knowledge-based economy and industrial diversification.”
Established in 2001, MODON is responsible for the development of
industrial cities throughout Saudi Arabia with integrated infrastructure
and services. Saudi Arabia’s developed industrial cities employ more
than 350,000 workers.
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.