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.