Jacobs Wins Contract to Help Build the Largest Shipyard in the Arabian Gulf
Jacobs to deliver design engineering services on the King Salman International Complex for Maritime Industries and Services at Ras Al Khair, Saudi Arabia
DALLAS, June 25, 2019 /PRNewswire/ -- Jacobs (NYSE:JEC) has been selected by SEPCO Electric Power Construction Corporation to deliver engineering services for Packages 4, 5 and 6 of the King Salman International Complex for Maritime Industries and Services project at Ras Al Khair in the Kingdom of Saudi Arabia (KSA).
"This award continues Jacobs' long-term commitment to the Kingdom of Saudi Arabia where we have mobilized world-leading engineering expertise to support the ongoing diversification of the Saudi Arabian economy," said Jacobs Buildings and Infrastructure Senior Vice President and General Manager Patrick Hill. "Our partnership with SEPCO continues the established track record with Chinese civil and marine contractors to deliver major infrastructure developments across the globe."
The shipyard complex covers an area of 4.3 square kilometres and, when complete, will be the largest in the region, providing a combination of offshore structures fabrication, new ship building and maintenance, repair and overhaul (MRO) services. The Jacobs team will deliver detailed design services to the project including piers, dry-docks, ship lift, buildings, supporting infrastructure, utilities, telecommunications and security systems.
The project, owned by Saudi Aramco and its JV partners, is closely aligned with Saudi Vision 2030, the government's strategy to grow and diversify the Saudi economy. It aims to leverage the rapidly growing maritime needs in the Kingdom and build local manufacturing and design capabilities, while delivering a world-class facility that will provide an unprecedented mix of products and services in the region.
"SEPCO awarded the engineering contract to Jacobs with the expectation of leveraging their global engineering expertise on this project," said SEPCO Project Manager Zhang ZhongXiang. "We look forward to a successful venture that will play a major role in the development of projects in alignment with Saudi Vision 2030."
Jacobs has a buildings and infrastructure team of approximately 1,250 employees across the Middle East who leverage their strong local knowledge and project experience, underpinned by Jacobs' global network, to deliver a range of services to clients cross the infrastructure and built environment markets.
Jacobs leads the global professional services sector delivering solutions for a more connected, sustainable world. With approximately $12 billion in revenue and a talent force of more than 50,000, Jacobs provides a full spectrum of services including scientific, technical, professional and construction- and program-management for business, industrial, commercial, government and infrastructure sectors. For more information, visit www.jacobs.com, and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. 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 additional factors that may occur that could cause actual results to differ from our forward-looking statements see our Annual Report on Form 10-K for the year ended September 28, 2018, and in particular the discussions contained under Item 1 - Business; Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations, and our Quarterly Report on Form 10-Q for the quarter ended March 29, 2019, and in particular the discussions contained under Part I, Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations; Part II, Item 1 - Legal Proceedings; and Part II, Item 1A - Risk Factors, as well as the Company's other filings with the Securities and Exchange Commission. The Company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.
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