PASADENA, Calif., June 26, 2012 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE: JEC) announced today that it received a contract extension for 2012 from Peoples Gas Light and Coke Company to provide program and construction management services, as well as consultancy support for Peoples Gas' accelerated main replacement program (AMRP) in the City of Chicago.
The program, a $2.5 billion investment over 20 years, is the largest single capital investment undertaking in Peoples Gas' history and involves upgrading the existing low-pressure gas distribution system to a more modern, safe and reliable medium-pressure system.
In making the announcement, Jacobs Group Vice President Kevin McMahon stated, "We are very pleased to continue our work with Peoples Gas on this complex project to modernize the gas distribution system in Chicago. We look forward to continuing our relationship with them as a highly valued client."
Peoples Gas, a subsidiary of Integrys Energy Group, Inc. (NYSE: TEG ), is a regulated natural gas delivery company that serves approximately 826,000 residential, commercial and industrial customers in the city of Chicago. For more information about Peoples Gas, visit the company's website: www.peoplesgasdelivery.comJacobs is one of the world's largest and most diverse providers of technical, professional, and construction services. For more information about Jacobs, visit: www.jacobs.com 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 2011 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.