PASADENA, Calif., Oct. 21 /PRNewswire-FirstCall/ -- Jacobs Engineering Group Inc. (NYSE: JEC) announced today that it is performing engineering, procurement, and construction services for Flint Hills Resources' new diesel desulfurization unit in Corpus Christi, Texas.
Officials did not disclose the contract value. The estimate for the overall project, which includes the construction of the desulfurization unit, is estimated to be more than $250 million.
The diesel desulfurization unit will provide Flint Hills Resources with opportunities to upgrade low-value products into high-value products such as ultra-low sulfur diesel. The construction project is expected to take 18 months to complete.
In making the announcement, Jacobs Group Vice President Jim Stewart stated, "We are delighted to expand our relationship with Flint Hills Resources to include this diesel desulfurization project. This extends our long history of providing engineering, procurement, and construction services. We are excited to support Flint Hills Resources in meeting the growing demand for ultra-low sulfur diesel in Texas."
Flint Hills Resources, LP employs about 900 people in Corpus Christi. It produces transportation fuels and aromatic chemicals at its 300,000-barrels-per-day facility. A leading refining and petrochemical company based in Wichita, Kan., Flint Hills Resources has completed capital expansions and acquisitions worth more than $3 billion since 2002. The company employs about 3,700.
Jacobs, with over 56,000 employees and revenues exceeding $10.0 billion, provides technical, professional, and construction services globally.
Any statements made in this release that are not based on historical fact are forward-looking statements. Although such statements are based on management's current estimates and expectations, and currently available competitive, financial, and economic data, forward-looking statements are inherently uncertain. We, therefore, caution the reader that there are a variety of factors that could cause business conditions and results to differ materially from what is contained in 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 2007 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 also caution the readers of this release that we do not undertake to update any forward-looking statements made herein.
For additional information contact:
Michelle Jones
626.578.6968
SOURCE Jacobs Engineering Group Inc.