PASADENA, Calif., Feb. 22, 2011 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE: JEC) announced today that it signed a contract in Dec. 2010, with the Saudi Industrial Investment Group (SIIG) and Arabian Chevron Phillips Petrochemical Company Limited (ACP) to provide engineering, procurement and construction management services for a polyamide 6,6 manufacturing plant and a number of polymer conversion projects. The projects will be located in the Eastern Province industrial city of Al-Jubail in the Kingdom of Saudi Arabia.
Officials did not disclose the contract value, however noted that Jacobs' Houston, Texas and Al Khobar, Saudi Arabia offices are executing the project work, and anticipate providing career opportunities for Saudi nationals.
The polyamide 6,6 plant is expected to be built using state of the art technology licensed from a leading producer of polyamide 6,6. The polymer conversion projects are expected to include high-performance polyethylene pipe, irrigation products, medical disposables, complex caps and closures, pharmaceutical packaging products, polyamide 6,6 compounding, electrical fittings and automotive parts.
In making the announcement, Jacobs Group Vice President Mike Autrey stated, "We appreciate ACP and SIIG's confidence in us. We are committed to supporting this strategic investment in the Kingdom of Saudi Arabia."
Saudi Industrial Investment Group is a Saudi joint stock company. Arabian Chevron Phillips Petrochemical Company Limited is a wholly-owned subsidiary of Chevron Phillips Chemical Company LLC.
Jacobs is one of the world's largest and most diverse providers of technical, professional, and construction services.
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 2010 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.
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SOURCE Jacobs Engineering Group Inc.