Jacobs to Design Key Industrial Cities in Saudi Arabia for MODON
October 21 2014 - 6:45AM
Business Wire
Jacobs Engineering Group Inc. (NYSE:JEC) announced today that it
was awarded a two year framework agreement from Saudi Industry
Property Authority (MODON) for design services to support the
development of various industrial cities throughout Saudi
Arabia.
Company officials did not disclose the contract value.
Under the terms of this contract, Jacobs is providing concept
and detailed design services for at least three new industrial
cities.
In making the announcement, Jacobs Group Vice President Bassim
Shebaro stated, “We are delighted to be working with MODON on this
important project to develop the infrastructure required to help
expand and diversify the economy of Saudi Arabia. We look forward
to supporting MODON’s goal to create a lasting and impactful
development, by drawing upon our local and global expertise
incorporating best practices in city planning, urban design,
transportation planning, energy efficiency, and environmental
standards.”
Established in 2001, MODON is responsible for the development of
industrial cities throughout Saudi Arabia with integrated
infrastructure and services. It is currently overseeing more than
30 existing and under-development cities across a total area of
approximately 164 million square meters (63 square miles),
including locations such as Riyadh, Jeddah and Dammam. Saudi
Arabia’s developed industrial cities employ more than 350,000
workers.
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 2013 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.
Jacobs Engineering Group Inc.Michelle Jones, 626.578.6968
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