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Last updated on April 19, 2014 at 9:20 EDT

Jacobs Receives Contract from Marafiq in Saudi Arabia

September 20, 2011

PASADENA, Calif., Sept. 20, 2011 /PRNewswire/ — Jacobs Engineering Group Inc. (NYSE: JEC) announced today that it received a contract from Saudi Arabian utility company Marafiq for the provision of project management consultancy (PMC) services at Marafiq’s new integrated power and water facility in Yanbu, Saudi Arabia.

Officials did not disclose the value of the contract, but noted that the overall project has a value in excess of $1 billion.

Jacobs’ scope of work for the project includes project management, quality assurance, safety assurance, permitting support, engineering review, construction oversight and start-up and commissioning oversight.

While making the announcement, Jacobs Group Vice President Bob Irvin stated, “Jacobs is very pleased to continue to be with Marafiq in its growth as the first private integrated utility company in Saudi Arabia. This project supports Jacobs’ long-term commitment to clients in the Middle East.”

Marafiq’s core business is the development, operation and maintenance of power and water treatment systems to provide essential utility services for the industrial cities of Jubail and Yanbu in Saudi Arabia.

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 2010 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.

For additional information contact:
Michelle Jones
626.578.6968

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SOURCE Jacobs Engineering Group Inc.


Source: PR Newswire