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Corporate News Blog - Jacobs Secures Major Rail Project in Malaysia

LONDON, UK / ACCESSWIRE / July 20, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Jacobs Engineering Group Inc. (NYSE: JEC), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=JEC. The Dallas based Company announced on July 18, 2017, that the Company has secured the role of Lead Trackwork Design Consultant for the Klang Valley Mass Rapid Transit (KVMRT) Sungai Buloh-Serdang-Putrajaya (SSP) Line in Malaysia, for an estimated construction cost of approximately $7.6 billion. The KVMRT project involves the construction of a rail-based public transport network comprising of three lines. The SSP Line is the second mass rapid transit line to be developed. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on JEC. Go directly to your stock of interest and access today's free coverage at:

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Jacobs will work with the Joint Venture team of China Communications and Construction Company (CCCC) and George Kent (GK), which won a $234 million contract for the engineering, procurement, construction, testing and commissioning of track work, maintenance vehicles, and work trains on the MRT SSP Line by MRT Corporation.

Project Aiding to Build Presence in South East Asia

Senior Vice President of Jacobs Buildings and Infrastructure, Patrick Hill, expressed:

"This is the first large scale rail project for Jacobs in Malaysia, which builds on our strong presence across South East Asia in the growing transport infrastructure market, reinforcing our reputation as a leading service provider. This follows our deliberate investment in the transportation sector in South East Asia, mobilizing capabilities from the UK and Australia to support our clients in projects with an increasing level of scale and complexity."

MRT SSP Line Specifications

The MRT SSP Line will be around 32.4 miles in length, with 8.4 miles of rail in tunnels and the remaining on elevated structures, covering 26 elevated stations, 11 underground stations, and a maintenance depot. The line will serve a corridor with a population of nearly two million people.

Jacobs' Services

Jacobs will provide design support services throughout the construction period and use building information modeling (BIM) to support a fully integrated digital engineering approach. The Company is required to design the trackwork, emergency walkways, cable containment systems, and stray current control systems. The project will be delivered in accordance with international systems engineering and assurance practices.

Jacobs' Recent Projects in 2017

Jacob was awarded seven-year professional services prime contract for project and construction management on May 10, 2017, by Los Angeles World Airports (LAWA) to support its Landside Access Modernization Program, Airline/Tenant Improvement Program, and Capital Improvement Program at Los Angeles International Airport (LAX).

On May 20, 2017, Saudi Aramco entered into an agreement with Jacobs to form a Saudi Arabia-based joint venture company to provide professional program and construction management (PMCM) services for social infrastructure projects in the Kingdom and across the Middle-East and North Africa.

Jacobs secured a contract from Nexen Energy ULC on May 25, 2017, to offer non-imitable procurement and engineering services for Nexen Energy's operations in Western Canada.

Jacobs signed an engineering services agreement with Keyera Partnership (KEY.TO) on June 14, 2017, to provide engineering services for the Wapiti Liquids Handling & Gas Processing Facility, a key part of Keyera's Wapiti Development project.

On July 12, 2017, Jacobs secured $125 million design services contract from Florida's Turnpike Enterprise (FTE), aimed at improving transit facilities of South Florida.

About Jacobs Engineering Group Inc.

Founded in 1947 by Joseph J. Jacobs, Jacobs Engineering Group Inc. provides technical, professional, and construction services for industrial, government, and commercial clients, primarily in the US, the UK, and Canada. The Company's largest single customer is the US government for which it chiefly performs aerospace and defense work. Headquartered in Dallas, United States, the Company has more than 230 offices in around 25 countries and employs around 54,000 people.

About George Kent

Headquartered in Puchong, Malaysia, George Kent is a world-renowned and leading manufacturer of water meters, valves and fittings, and brass products, exporting to more than 40 countries.

Last Close Stock Review

On Wednesday, July 19, 2017, Jacobs Engineering's stock closed the trading session at $53.43, climbing 1.97% from its previous closing price of $52.40. A total volume of 580.30 thousand shares was exchanged during the session. Shares of the Company have a PE ratio of 31.05 and have a dividend yield of 1.12%. The stock currently has a market cap of $6.42 billion.

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