Jacobs Receives Contract Extension for RTD FasTracks Program
PASADENA, Calif., March 22, 2011 /PRNewswire/ — Jacobs Engineering Group Inc. (NYSE: JEC) announced today that the Denver, Colo. Regional Transportation District (RTD) Board of Directors approved the budget for Jacobs’ continued services as the FasTracks’ Program Support Services Consultant for 2011. Jacobs has been the Program Support Consultant (PSC) to RTD on the multibillion dollar program since 2005.
Officials estimate the contract value at over $17 million, and also noted that the RTD Board of Directors authorized execution of a six-year option to extend the contract term through July 2017.
The Jacobs PSC team provides program support and specialized technical staff support as an extension of RTD’s FasTracks staff. In this role, Jacobs supported RTD in developing a successful $2 billion design-build-finance-operate-maintain (DBFOM) concessionaire agreement to implement the Eagle P3 comprising the East Corridor, Gold Line, Northwest Rail Corridor Segment 1, and the Commuter Rail Maintenance Facility.
FasTracks is the RTD’s comprehensive plan for expansion of high quality transit services and facilities across an eight-county district. The FasTracks program includes construction of 122 miles of new rail transit, 18 miles of bus rapid transit, new parking spaces at rail and bus stations and a major multimodal transit hub at Denver Union Station.
In making the announcement, Jacobs Group Vice President Robert M. Clement stated, “We are very pleased to continue our support services as RTD implements one of the largest transit system expansions in the country.”
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.