Engineering and construction company,
Jacobs Engineering Group Inc.
) joint venture (JV) with HDR received a contract from Naval
Facilities Engineering Command (NAVFAC) Atlantic. The contract
requires the JV to provide architecture and engineering services
to NAVFAC's worldwide locations. The Indefinite
Delivery/Indefinite Quantity (IDIQ) contract spans five years
with a maximum order limit of $60 million.
Per the contract, the JV will support the U.S. Navy and other
Department of Defense facilities and infrastructure for its
Sustainment, Restoration and Modernization Program. The scope of
the contract spans from the U.S. to the Caribbean, Europe,
Africa, Western Asia and multiple other geographies. Jacobs
expects to leverage the JV's experience and expertise in the
execution of the contract.
This is not the first association between the two parties. In
Nov 2013, Jacobs received a contract from Naval Facilities
Engineering Command Mid-Atlantic (NAVFAC MIDLANT) to provide
commissioning design and engineering services. The IDIQ contract
spanned three years and was valued at a maximum of $30
Jacobs caters to an array of sectors like oil and gas,
petrochemical, mining, IT services and power through joint
ventures and contract wins. The company presently has a
significant share in the huge global infrastructure market, which
is expected to grow further in the coming quarters.
California-based Jacobs is one of the leading providers of
professional, technical and construction services to industrial,
commercial and governmental clients. The company provides its
services through more than 200 offices and subsidiaries located
principally in North America, Europe, Asia and Australia.
With a market capitalization of $8.3 billion, Jacobs currently
has a Zacks Rank #3 (Hold). Some better-ranked stocks in the
Quanta Services, Inc.
Willdan Group, Inc.
). All these stocks have a Zacks Rank #2 (Buy).
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