PASADENA, Calif.--(BUSINESS WIRE)--Jacobs Engineering Group Inc. (NYSE:JEC) announced today that its joint venture with AMEC and Balfour Beatty has been selected by Sellafield Ltd to deliver its Box Encapsulation Plant (BEP) project in West Cumbria, United Kingdom.
Sellafield officials noted that the potential value range of the framework agreement is between $380 million (£240 million) and $540 million (£336 million) over a period of four years.
Under the terms of the agreement, the three way equal joint venture is expected to deliver the complete life cycle of services to the project; from design, engineering, procurement, installation, and construction management through to inactive commissioning.
Work on the BEP is scheduled to begin immediately. The project is an integral part of the Magnox Swarf Storage Silo (MSSS) Program addressing the cleanup of one of the most hazardous legacy facilities on the Sellafield site. When complete, the BEP is expected to treat nuclear waste recovered from MSSS, immobilize it, and prepare it for long-term storage. In addition, the BEP may also process waste recovered during the decommissioning of other significant Sellafield facilities including the First General Magnox Storage Pond and the Pile Fuel Storage Pond.
In making the announcement, Jacobs Group Vice President Conor Doyle stated, “The Jacobs/AMEC/Balfour Beatty team is delighted to collaborate on the BEP project and support Sellafield’s goal to create a sustainable socio-economic legacy. As one of the UK’s foremost firms in the field of nuclear engineering, we blend a 30-year history working with Sellafield, world-class project management skills, and established local supply chain relationships to support this significant and complex project.”
Sellafield Ltd is responsible for safely delivering decommissioning of the UK’s nuclear legacy as well as fuel recycling and the management of low, high and intermediate level nuclear waste activities on behalf of the Nuclear Decommissioning Authority.
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 2013 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.