Jacobs Receives Contract to Support Hong Kong-China Express Rail Project
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PASADENA, Calif., July 7 /PRNewswire-FirstCall/ -- Jacobs Engineering Group
Inc. (NYSE: JEC) announced today that a subsidiary company received a contract
from the Highways Department of the Government of the Hong Kong Special
Administrative Region to provide engineering services for the design and site
investigation phase of the US$5 billionHong Kong section of the
Guangzhou-Shenzhen-Hong Kong Express Rail Link (XRL).
Jacobs will perform monitoring and verification of work that is executed by
MTR Corporation Limited and its associated consultants/agents. Jacobs' Hong
Kong office will work directly with the Railway Development Office of the
Highways Department, which plans and coordinates the implementation of new
rail projects in Hong Kong.
Officials noted that the contract value is US$3 million.
In making the announcement, Jacobs Group Vice President Chris Nagel said, "We
greatly appreciate the opportunity to build on our existing relationship with
the Highways Department. We are eager to support the Government of the Hong
Kong Special Administrative Region in its efforts to meet Hong Kong's
increasing transportation needs and maintain Hong Kong's position as the
southern gateway to China."
The Hong Kong section of the XRL will run in the form of an underground tunnel
from a new terminus at West Kowloon to the boundary at Huanggang for
connection with China's Mainland section. Construction is anticipated to start
by end of 2009 and expected to finish in 2012.
Jacobs, with annual revenues exceeding $12 billion, is one of the world's
largest and most diverse providers of technical, professional, and
construction services.
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 2008 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.
(Logo: http://www.newscom.com/cgi-bin/prnh/20090109/JACOBSEGLOGO)
For additional information, contact:
Michelle Jones
626.578.6968
SOURCE Jacobs Engineering Group Inc.
Michelle Jones of Jacobs Engineering Group Inc., +1-626-578-6968
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