DALLAS, April 29, 2020 /PRNewswire/ -- Jacobs (NYSE: J), as part of CH2M Hill BWXT West Valley, LLC (CHBWV), a Jacobs-led joint venture, was awarded a contract extension from the U.S. Department of Energy, Office of Environmental Management (DOE-EM) at the West Valley Demonstration Project.
DOE-EM estimates the 39-month contract extension modification to be valued at $243 million, bringing the new contract value to a total of $836 million.
"The Jacobs team has performed impressive and impactful work at the site and around the West Valley, New York community for the past 10 years," said Jacobs Critical Mission Solutions North American Nuclear Senior Vice President and General Manager Karen Wiemelt. "I'm confident in our ability to continue to perform and exceed expectations throughout the contract extension."
The purpose of the more than three-year extension is for the CHBWV team to safely and compliantly complete the deactivation, demolition and removal of the last major facility remaining at the site, the Main Plant Processing Building (MPPB), as well as other facility disposition activities.
The CHBWV team has completed 98% of the deactivation work required before the MPPB can be demolished. The team also has demolished 44 of 47 site facilities to date, in addition to significantly improving infrastructure to support the cleanup efforts at the site, both current and future. Jacobs reached major milestones late 2018 when crews completed the demolition of the 10,000-square-foot vitrification plant and disposition of legacy waste, the largest and most complex environmental cleanup at the site.
The West Valley Demonstration Project is an environmental remediation project at the site of a former commercial nuclear fuel reprocessing center located about 40 miles south of Buffalo, New York. Since taking control of the site to carry out the first phase of decommissioning activities that began in August 2011, the Jacobs-led team has been conducting cleanup and facility demolition activities and is actively engaged in removing radioactive waste, contaminated equipment and obsolete structures from the 200-acre site.
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Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements, including, but not limited to, the impact of the COVID-19 pandemic and the related reaction of governments on global and regional market conditions and the company's business. For a description of some additional factors that may occur that could cause actual results to differ from our forward-looking statements, see our Annual Report on Form 10-K for the year ended September 27, 2019, and in particular the discussions contained under Item 1 - Business; Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations, as well as the company's other filings with the Securities and Exchange Commission. The company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.
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