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Jacobs Receives Contract from Chennai Petroleum Corporation Limited for Manali Refinery
Press Release Source: Jacobs Engineering Group Inc. On Tuesday May 4, 2010, 7:45 am EDT
PASADENA, Calif., May 4, 2010 /PRNewswire-FirstCall/ — Jacobs Engineering Group Inc. JEC News announced today that it has received a contract from Chennai Petroleum Corporation Limited (CPCL) to provide project management consultancy (PMC) and engineering, procurement, construction management (EPCM) services for the Resid Upgradation Project of CPCL at their Manali facilities in Chennai, India. The project involves a delayed coker unit (DCU), a once through hydrocracker revamp, a sulfur recovery unit, a green field coke yard facility, and utilities.
Officials did not disclose the contract value. The total installed cost of the DCU is estimated at about U.S. $650 million.
Chennai Petroleum is a group company of Indian Oil Corporation. Indian Oil Corporation Ltd. is currently India’s largest company by sales. Indian Oil is also the highest ranked Indian company in the prestigious Fortune Magazine ‘Global 500′ listing.
Jacobs’ scope of work includes process packages for the utility and offsite facilities, a detailed feasibility report, PMC services for execution of coker block and sulfur block and EPCM services for the balance of the project.
In making the announcement, Jacobs Group Vice President Chris Nagel stated, “We are delighted to work on this project for CPCL and assist them as they strive to satisfy their clients’ expectations for high quality products.”
Jacobs is one of the world’s largest and most diverse providers of technical, professional, and construction services.
Any statements made in this release that are not based on historical fact are forward-looking statements. Although such statements are based on management’s current estimates and expectations, and currently available competitive, financial, and economic data, forward-looking statements are inherently uncertain. We, therefore, caution the reader that there are a variety of factors that could cause business conditions and results to differ materially from what is contained in 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 2009 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 also caution the readers of this release that we do not undertake to update any forward-looking statements made herein.For additional information contact:
Michelle Jones
626.578.6968
(Logo: http://www.newscom.com/cgi-bin/prnh/20090109/JACOBSEGLOGO)
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