Jacobs Receives Owner’s Engineer Contract for Power Plant in the Philippines

Jacobs Engineering Group Inc. (NYSE:JEC) announced today that it was selected by Therma Visayas Inc. (TVI), a subsidiary of Aboitiz Power Corporation, for the role of owner’s engineer for the construction of a new 2x150 Megawatt electric (MWe) circulating fluidized bed (CFB) coal-fired power plant in Barangay Bato, Toledo City, Philippines.

Company officials did not disclose the contract value.

Under the terms of the contract, Jacobs is functioning as the owner’s engineer, carrying out design review and providing comments to Engineering, Procurement and Construction (EPC) contractor Hyundai Engineering Co., Ltd.

Jacobs’ scope of work involves supporting the owner by reviewing plans against contract specifications; submitting technical documents in accordance with relevant design codes and standards; reviewing commissioning test procedures; and attending off-site fabrication shop inspections and factory acceptance tests.

The design of TVI’s new plant includes two circulating fluidized bed boilers with reheat and steam turbine generators. Other elements of the new plant include a coal unloading jetty inclusive of unloading equipment, conveyor system, coal storage dome, ash handling system and storage facility, water treatment and wastewater treatment plants and other ancillary buildings and equipment.

The plant is scheduled for completion in 2017.

In making the announcement, Jacobs Group Vice President Kevin McMahon said, “We are delighted to contribute to TVI’s landmark energy project, as the Philippines continues to focus on meeting its rising energy demands to support rapid economic growth. We look forward to leveraging our proven track record, our knowledge and experience in similar projects across the region, and significant local capability to deliver excellence on this project.”

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 2014 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.