Jacobs Announces Morocco Joint Venture, Amtrak Contract

0

Jacobs Engineering Group Inc. said Tuesday that it is entering into a joint venture with longtime client Office Cherifien Des Phosphates to make fertilizer in Morocco. It also announced a large contract with Amtrak, the U.S. passenger rail service.

The Pasadena construction services company said the joint venture will provide program, project management and engineering services for projects based on OCP’s $5 billion investment program on Morocco’s Atlantic coast. The venture eventually will support OCP’s development of its Jorf Lasfar phosphate facility.

The venture is expected to be in operation by the end of the year and employ more than 200 people within 12 months. Financial terms were not disclosed. Jacobs has performed work for OCP for more than a decade.

“This is a unique opportunity to support OCP’s business goals, leverage our combined skills, and strengthen our development in the fertilizer business,” said Chairman Noel Watson in a statement. “It also enables us both to further penetrate the Moroccan and West African markets.”

Separately, Jacobs announced that it signed a contract with Amtrak to provide program management and construction management services for more than 100 infrastructure improvement projects at 360 or more locations. The contract has a potential value of at least $560 million.

The projects, including station improvements, bridge replacements, track work and security enhancements, are being funded through the American Recovery and Reinvestment Act economic stimulus package.

Jacobs shares closed up 37 cents, or less than 1 percent, to $44.45 on the New York Stock Exchange.

No posts to display