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