Jacobs Receives Contract to Support Hong Kong Section of the Express Rail Link Project

News provided by

Sep 14, 2010, 07:45 ET

PASADENA, Calif., Sept. 14 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE: JEC) announced today that it received a contract from the Highways Department of the Government of the Hong Kong Special Administrative Region to provide engineering services for the construction, testing and commissioning phase of the Hong Kong section of the Guangzhou-Shenzhen-Hong Kong Express Rail Link (XRL).

The contract value is estimated at HK$83.8 million (approx US$10 million).

Jacobs' scope of work for the project includes monitoring and verification of the construction work that is executed by MTR Corporation Limited and its contractors. This is the follow-on contract to the design and site investigation phase services that Jacobs has been delivering since 2009. Jacobs' Hong Kong office will continue to work directly with the Railway Development Office of the Highways Department, which plans and coordinates the implementation of new rail projects in Hong Kong.

The Hong Kong section of the XRL will run in the form of a tunnel from a new terminus at West Kowloon to Huanggang in Shenzhen for connection with China's Mainland section. Construction has commenced and is expected to be complete in 2015.

In making the announcement, Jacobs Group Vice President Chris Nagel stated, "We have established a sound working relationship with the Railway Development Office of the Highways Department. We are pleased to be given this opportunity to further support the Government of the Hong Kong Special Administrative Region on this strategic infrastructure project to enhance Hong Kong's connectivity with Mainland China and help them maintain Hong Kong's position as the southern gateway to China."

Jacobs 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 2009 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.