Jacobs Engineering Group Inc. (NYSE:JEC) announced today that it received a contract from Paradeep Phosphates Limited (PPL) to provide project management consultancy (PMC) services for its sulfuric acid plant expansion project in Paradeep, Orissa, India.
Officials did not disclose the contract value, however noted that the total contract duration is 24 months.
Under the terms of the contract, Jacobs is overseeing the work of engineering, procurement and construction (EPC) contractors as they expand PPL’s sulfuric acid plant to enable an estimated capacity of over 2,000 tons per day. The expansion project also includes a retrofit of the heat recovery system in PPL’s existing sulfuric acid plants, plus a new captive power plant and allied Outside Boundary Limits (OSBL) facilities.
Jacobs Group Vice President Allyn Taylor stated, “We are delighted to receive this contract from PPL and are committed to delivering a high level of value on the project. We are pleased to have increasing opportunities to expand the capabilities we provide to many business sectors throughout India.”PPL is a premier fertilizer company engaged in manufacturing and marketing complex phosphatic fertilizers in India. The company is owned by Zuari Holdings Ltd, OCP of Morocco and the government of India. Jacobs is one of the world's largest and most diverse providers of technical, professional, and construction services. 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.
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