Jacobs Engineering Group Inc. said Tuesday that it and two other companies have been awarded a $1.3 billion contract to replace a key commuter train bridge in New Jersey.

Pasadena-based Jacobs, which reported $10 billion in revenues last year, said that it formed a venture with Gannett Fleming Transit & Rail Systems and HNTB Corp. to compete for a contract with the New Jersey Transit to replace the Portal Bridge, a 98-year-old railroad swing bridge over the Hackensack River.

The two-track bridge carries Amtrak’s Northeast corridor traffic, and is used by New Jersey Transit commuter lines that serve New York City and the North Jersey coast. This work includes the design of up to 12 bridges carrying railroad traffic above county roads.

Jacobs estimates the overall construction value of the project at $1.3 billion, with construction scheduled for completion by 2017.

Jacobs shares were down 46 cents, or 1 percent to $57.59 in morning trading on the New York Stock Exchange.