Jacobs Engineering Group Inc. (JEC) won a contract from Marafiq to serve as project management contractor (PMC) for Marafiq’s ongoing investment program in Saudi Arabia. The contract value was not disclosed.
Jacobs will provide PMC services for a number of projects in the industrial cities of Jubail and Yanbu, under a framework that will be in effect for three years, extendable by another three years.
Work includes conceptual design, front-end engineering, design and construction monitoring, and other services necessary for successful installations. Projects involve expansions, upgrades, and installations of wastewater treatment plants, electrical power generation facilities, and a seawater reverse osmosis plant.
With annual revenues exceeding $11 billion, Jacobs is one of the world’s largest and most diverse providers of technical, professional and construction services. Its major competitors are Foster Wheeler AG (FWLT) and Fluor Corp. (FLR).
Marafiq, a privately owned power and utility company, has initiated an additional US$1.33 billion water and power project in 2004 to help meet the growing demand for power and water in Saudi Arabia.
The project meets Jacob’s corporate objective to continue expanding in the Middle East. Jacobs is also planning to expand and consolidate in India and China, respectively. Jacobs’ diversification in terms of markets, geography and services will continue to facilitate future growth.
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