Jacobs Joint Venture, JESA, Awarded Contract From OCP
PASADENA, Calif., Sept. 23, 2011 /PRNewswire/ — Jacobs Engineering Group Inc. (NYSE: JEC) announced today that Jacobs Engineering SA (JESA), the company’s joint venture with OCP S.A (OCP), has been selected to provide engineering, procurement and construction management (EPCM) services for two new Diammonium Phosphate (DAP) and Monoammonium Phosphate (MAP) production plants, to be constructed in Jorf Lasfar, Morocco. These new contracts bring the total plants awarded to JESA to four. Jacobs announced the award of the first production plant in December 2010, and the second was awarded in March 2011.
Officials did not disclose the contract or construction values.
Under the agreement, JESA’s scope of work includes management, procurement and administration (in part or in full) of the design and construction of four new plants. The plants, are part of a major OCP investment program to expand its production capacity of DAP and MAP. This investment program involves the construction of four identical new production DAP and MAP plants to be built and commissioned in six month intervals between July 2013 and July 2015.
In making the announcement, Jacobs President and CEO Craig Martin stated, “These awards are testament to the value the joint venture team is driving into OCP’s business. We are pleased to build upon our relationship with them.”
JESA is equally owned by OCP and Jacobs. Jacobs and OCP entered into the joint venture in 2010. JESA represents a powerful combination of engineering, project management and construction management resources, and provides services to industrial projects both in Morocco and internationally.
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.
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SOURCE Jacobs Engineering Group Inc.