Jacobs Engineering Group, Inc. (NYSE:JEC) announced today that it received a contract from Qatar Railways Company (QRC) to provide Project Management Consultancy (PMC) services for the Red Line (North and South) of the Doha Metro project. Officials did not disclose the contract value, however noted that the total construction value of the Doha Metro project is estimated to be $36 billion. The Red Line is within phase one of the Doha Metro Project and represents a significant stage of Qatar’s Integrated Rail Project. Phase one involves 58 miles of track to include the Red, Green and Gold lines. The four lines of the Doha Metro (Red, Green, Blue and Gold) are designed to connect major sites in Qatar linking the north, south and west of the capital. The entire network is anticipated to cover approximately 134 miles and include 100 stations. Jacobs is managing the delivery of the underground works for the Red Line, 16 miles running from Mesaieed in the South through the Center of Doha to Al Khor in the North. The line also branches to the New Doha International Airport to serve the city’s growing population as well as visitors; such as those expected to travel to Doha for the FIFA 2022 World Cup. Working as an integrated project team with Qatar Rail’s project staff, Jacobs is providing project management and engineering services for the underground sections of the Red Line. The construction of phase one is anticipated to be completed by 2019. In making the announcement, Jacobs Group Vice President Bob Duff stated, “This award provides us with the opportunity to further develop our relationship with the Qatar Railway Company. We look forward to bringing our global infrastructure capabilities and PMC resources together to deliver this important project, and to continuing our support of QRC in the long term delivery of their Integrated Rail Project.”
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.