Jacobs Receives Contract from Jubail Chemical Industrial Company in Saudi Arabia

Mar 15, 2011, 07:45 ET from Jacobs Engineering Group Inc.

PASADENA, Calif., March 15, 2011 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE: JEC) announced today that it has received an award from the Jubail Chemical Industrial Company Ltd (JANA) to provide technical and project management services for its existing epichlorohydrin plant expansion and a new epichlorohydrin plant at the Jubail, Saudi Arabia site. JANA is a wholly owned subsidiary of NAMA Chemicals (NAMA).

Officials did not disclose the contract value.

Under the agreement, Jacobs is providing technical and project management services for both inside battery limits (ISBL) and outside battery limits (OSBL). The ISBL services involve debottlenecking of their existing epichlorohydrin plant to achieve increased capacity, and the OSBL services cover all utilities and the tankage area. Jacobs' scope also includes cost estimates preparation and the project management support for JANA's new epichlorohydrin plant, to be built at the same site in Jubail.

This expansion is intended to increase the epoxy resins production capacity to 240 ktpa at the Jubail site.

NAMA's Chief Executive Officer Abdulmohsen H. Al-Ogaili, stated, "The expansion projects are expected to provide high quality epoxy resins and intermediates to the markets we serve and add value to the Kingdom's economy, including employment. JANA is looking forward to building a long term relationship with Jacobs to support our current and future projects".

In making the announcement, Jacobs Group Vice President Allyn Taylor stated, "This award is the result of Jacobs' and JANA's teams close collaboration over the past three years, and we welcome the opportunity to support JANA to expand its existing Jubail facilities. "

NAMA is a Saudi joint stock company operating since 1992 in the chemicals and petrochemicals sector.

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 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 do not undertake to update any forward-looking statements made herein.

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SOURCE Jacobs Engineering Group Inc.