SAIC Awarded Saudi-American Food security & renewable Energy Company Contract

Company to Provide Support Services to Improve Food Security in the Kingdom of Saudi Arabia

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Jun 26, 2014, 04:05 ET

MCLEAN, Va., June 26, 2014 /PRNewswire/ -- Science Applications International Corporation (NYSE: SAIC) today announced that it has been awarded an indefinite delivery/indefinite quantity contract by the Saudi-American Food security & renewable Energy Company (SAFECO) to provide services including systems engineering and integration, logistical analyses, and program management support. The contract has a three-year base period of performance, six three-year options, and a total contract value of $115 million, if all options are exercised. Work will be performed primarily in McLean, Va., the United Arab Emirates and the Kingdom of Saudi Arabia.

SAFECO is an initiative to enhance food security within the Kingdom of Saudi Arabia. Its goals are to provide renewable sources of energy and a decreased reliance on foreign food supply for the Kingdom.

"This agreement is the first step toward identifying and creating an innovative food security and renewable energy program within the Kingdom of Saudi Arabia and the Middle East and North Africa Region," said SAFECO Chairman of the Board Khaled A. Al Olayan.

Under the contract, SAIC will provide systems engineering and technical assistance (SETA); business services; contract services; subject matter expertise support as needed; and program management support. SAIC will also provide value added services to the SAFECO organization as it develops the SAFECO Industrial Complex.

"During the first two years of this contract, SAIC's SETA role is primarily to provide unbiased technical information SAFECO can use to effectively develop and operate these facilities and progress towards their aspirational vision," said Robert Genter, SAIC senior vice president and general manager of Strategic Growth Markets. "SAFECO's long term vision is self- reliance and sustainment."

The addition of SAIC to the SAFECO team is an "added value which will carry our strong relationship into the future," said SAFECO CEO Ibrahim F. Al Othman. "This is a very good thing."

About SAIC

SAIC is a leading technology integrator providing full life-cycle services and solutions in the technical, engineering, and enterprise information technology markets. SAIC's deep domain knowledge and customer relationships enable the delivery of systems engineering and integration offerings for large, complex government and commercial projects. SAIC's approximately 13,000 employees serve customers in the U.S. federal government, state/local, and global commercial markets, specializing in providing a broad range of higher-end, differentiated technical capabilities. Headquartered in McLean, Va., SAIC has annual revenues of about $4 billion. For more information, visit www.saic.com. For ongoing news, please visit our newsroom.

Certain statements in this announcement constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties and a number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in SAIC's Annual Report on Form 10-K other such filings that SAIC makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.

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SOURCE SAIC