Jacobs Providing EPCM Services for Sadara Chemical Company
By Business Wire News
By Business Wire News
Jacobs Engineering Group Inc. (NYSE:JEC) announced today that it was awarded a four-year contract by Sadara Chemical Company (Sadara) for engineering, procurement and construction management (EPCM) services. The contract value was not disclosed.
Sadara is currently building the world’s largest chemical complex to ever be constructed in a single phase, with 26 world scale manufacturing plants, in Jubail Industrial City II, Saudi Arabia.
Under the terms of the contract, Jacobs is providing both In-Kingdom and Out-of-Kingdom EPCM services to Sadara. The In-Kingdom services are being delivered from Jacobs’ local operations in Saudi Arabia with support from its extensive global network.
In making the announcement, Jacobs Group Vice President Bassim Shebaro stated, “We are proud to deepen our relationship with Sadara, which began in 2011. Since then, we have developed a strategic business relationship built on value, trust, partnership and commitment.”
Established in October 2011, Sadara is a joint venture developed by Saudi Arabian Oil Company (Saudi Aramco) and The Dow Chemical Company (Dow). With a total investment of about $20 billion, Sadara is building a world scale integrated chemical complex with 26 manufacturing plants and over three million metric tons of capacity per year. Sadara’s differentiated product portfolio, employing cutting-edge technologies, will add downstream value chains to expand and transform the Kingdom of Saudi Arabia’s existing chemicals landscape. Sadara will introduce many new products to Saudi Arabia, including the first isocyanate and polyol (polyurethane) plants, enabling many industries that either do not currently exist in the Kingdom or only exist through imports of raw materials.
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 2014 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.