PASADENA, Calif., May 22, 2012 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE:JEC) announced today it was awarded a contract by Saudi Arabian Mining Company (Ma'aden) to provide a bankable feasibility study/front end engineering design (FEED) for its Umm Wu'al Phosphate Project in the Sirhan-Turaif region, the Kingdom of Saudi Arabia.
Officials did not disclose the contract value.
Ma'aden is proceeding with the development of its Umm Wu'al Phosphate Project, a major phosphate resource in the north of Saudi Arabia, to supply merchant grade phosphoric acid to the fertilizer, food and animal feed industries. The greenfield project is located 35 kilometers northeast of Turaif and approximately 100 kilometers to the west of the Ma'aden Phosphate Company beneficiation complex. The project envisages an open pit mine and beneficiation process, adding approximately 1.5 million metric tons to Ma'aden's planned annual phosphate capacity, which is expected to be marketed locally and internationally.
In addition to the new phosphoric acid (MGA) production, the project will supply phosphate intermediate products, including purified phosphoric acid, sodium tri-poly-phosphate, mono-calcium phosphate and di-calcium phosphate, to augment Ma'aden's phosphate product mix. The overall project requires a power distribution plant and associated infrastructure.
Jacobs Group Vice President Mike Coyle stated, "This is a significant project in Ma'aden's commitment to grow its production capacity within Saudi Arabia, and we are delighted to bring our extensive experience in the region and the global mineral resources industry to support it. We look forward to working with Ma'aden to support its growth objectives."
The project would principally utilize existing port, rail and infrastructure developments put in place by the Kingdom's government as part of a national program of infrastructure enhancement to deliver regional development.
Ma'aden was established in March 1997 to facilitate the development of Saudi Arabia's non-petroleum mineral resources and to diversify the Kingdom's economy away from the petroleum and petrochemical sectors. Ma'aden is engaged in the development, advancement and improvement of all aspects of the mineral industry, mineral products and by-products and related industries in Saudi Arabia.
Jacobs is one of the world's largest and most diverse providers of technical, professional, and construction services.
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. 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 2011 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 do not undertake to update any forward-looking statements made herein.
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SOURCE Jacobs Engineering Group Inc.