PASADENA, Calif., June 12, 2012 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE:JEC) announced today that it received a contract from the Port of Houston Authority to perform professional engineering services for the rehabilitation of Wharves 1 and 2 at the Barbours Cut Terminal in Morgans Point, Texas. The primary purpose of the project is to allow the wharves to accommodate larger ship-to-shore cranes.
Officials estimate the construction value to be in excess of $50 million, with a design contract value of $4.9 million. Construction of this project is expected to be complete by fall 2014.
Jacobs' scope includes developing construction documents for the upgrade of approximately 2670 feet of the wharves. In addition to structural improvements to the wharves, other elements include new fenders, crane infrastructure and appurtenances, paving, two stevedore support buildings, lighting, and related work.
In making the announcement, Jacobs Group Vice President Kevin McMahon stated, "We are very pleased to have the opportunity to continue our working relationship with The Port of Houston Authority. We look forward to assisting them in creating additional capacity at Barbours Cut. The recent announcement of the new all-water service from Shanghai to Barbours Cut – with Houston being the only US port of call - shows how important The Port of Houston is to both the city and the nation, and just how important it is to upgrade the terminal."
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 2011 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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