Saudi Aramco Lubricating Oil Refining Co. (Luberef), recently
Jacobs Engineering Group Inc
), a construction services provider, a deal to supply project
management consulting (PMC) services. The deal relates to the
expansion of Luberef's lube oil refinery in Yanbu, Saudi Arabia.
The total value of the contract remains undisclosed; however, the
total expansion is estimated to cost roughly $1.0 billion.
Luberef is a leading global provider of high quality base
oils. Subsequent to the expansion, Luberef is expected to boost
its production of base oil in order to satisfy the demand for
high quality GR-II and GR-III base oils. Also, it will increase
the GR-I production to double the current supply. Moreover, this
expansion project is designed to keep a check on the imports of
The execution of the contract will be done through Jacob's
office in the Netherlands through the support of its offices in
Saudi Arabia. Per the contract, both inside battery limits (ISBL)
and outside battery limits (OSBL) will be dealt with by
On the same day, Jacobs announced the win of a Facility of the
Year Award for the project undertaken by the company for
). The facility was built to manufacture seasonal and pandemic
influenza vaccines. Jacobs was responsible for designing services
as well as construction management for the facility.
Jacobs is one of the world's largest and most diverse
providers of technical, professional and construction services.
The stock currently holds a Zacks Rank #3 (Hold). Other stocks in
the industry worth a look are
Quanta Services Inc.
); holding a Zacks Rank #1 (Strong Buy). Also,
AECOM Technology Corporation
) holds a Zacks Rank #2 (Buy).
AECOM TECH CORP (ACM): Free Stock Analysis
JACOBS ENGIN GR (JEC): Free Stock Analysis
NOVARTIS AG-ADR (NVS): Free Stock Analysis
QUANTA SERVICES (PWR): Free Stock Analysis
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