Bechtel Awards EPCM Contract to Jacobs

By Jocelyn Redfern at January 10, 2011 14:58
Filed Under: Company News, Navy News


Jacobs Engineering Group Inc. (NYSE: JEC) received a contract from Bechtel Marine Propulsion Corporation to provide engineering, procurement and construction management (EPCM) services in support of the Expended Core Facility Recapitalization Project. 

The total construction project cost is estimated to range from $300 to $500 million.

The project, located within the boundary of Idaho National Laboratory, will support the Naval Reactors Facility (NRF) mission in Idaho.  It is anticipated that construction for a new spent fuel handling facility would begin in 2016 and the building would be operational in 2020.

In making this announcement, Jacobs CEO Craig Martin stated, "We are very pleased to have been awarded this contract and to aid in supporting the U.S. Navy's nuclear powered fleet."

Jacobs is one of the world's largest and most diverse providers of technical, professional, and construction services.

PASADENA, Calif., Jan. 4, 2011 /PRNewswire/

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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Michelle Jones


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