Jacobs Engineering Group Inc. (NYSE:JEC) announced today that it received a contract from the Texas Department of Transportation (TxDOT) to provide environmental and engineering services for the design of six miles of roadway surrounding and including the busy interchange at Interstate Highway 820 and State Highway 121 in Fort Worth, Texas.
Officials estimate the construction value to be $160 million, with a contract value of up to $15.7 million.
Under the terms of the contract, Jacobs is managing environmental and engineering services as well as public involvement efforts related to the project, which proposes to add general purpose and bi-directional tolled managed lanes to the existing highway. Although construction funds are not yet identified at this time, the project provides for a phased approach with interim and ultimate conditions to help maximize future available funding resources.
In making the announcement, Jacobs Group Vice President Kevin McMahon stated, “We are delighted to continue our long-term relationship with the Texas Department of Transportation and look forward to working on this complex interchange in Tarrant County. Together with other planned improvements in the county, this project will help enhance the safety and mobility of the travelling public in the region.”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 2012 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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