Blog Coverage Jacobs Engineering Selected to Lead Concept Design for Agribusiness Innovation Hub in Australia

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LONDON, UK / ACCESSWIRE / March 23, 2017 / Active Wall St. blog coverage looks at the headline from Jacobs Engineering Group Inc. (NYSE: JEC) as the Company announced on March 22, 2017, that it has been appointed by Fucheng Investment Australia (FIA) to lead the conceptualization, planning, and design of a regional center of agribusiness innovation in Australia. The Company also won a Construction management contract from Oxea Corporation a day earlier. Register with us now for your free membership and blog access at:

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One of Jacobs Engineering Group’s competitors within the Technical Services space, KBR, Inc. (NYSE: KBR), reported on February 24, 2017, its Q4 FY16 financial results. AWS will be initiating a research report on KBR, Inc. in the coming days.

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Jacobs is one of the world’s largest and most diverse providers of full-spectrum technical, professional, and construction services for industrial, commercial, and government organizations globally. The Company employs over 54,000 people and operates in more than 25 countries around the world.

Project Details

Jacobs will be providing a multidisciplinary approach for the proposed development, combining urban planning, design, engineering, economics, and environmental sustainability services.

The appointment follows FIA’s AUS$100 million acquisition of a 4,953-hectare section of Woodhouse Station, a former cattle station on Melbourne’s western urban fringe. Initial concept planning for the site will take place over the coming months.

“We were looking to appoint a global leader in city planning and infrastructure development to help us create something completely unique with Woodhouse Station,” said Fucheng Investment Australia CEO Chris Potaris,” Jacobs stood out as the team who not only understood our vision, but had the ability and experience to deliver it.”

“It is our goal to help FIA deliver a project that is viable at each stage of its development, from a core of intensive agriculture to one that can potentially become a National Employment Cluster for Melbourne,” said Senior Vice President Buildings and Infrastructure Patrick Hill.

Wins Construction Contract

On March 21, 2017, Jacobs announced that it has been awarded a construction management contract from Oxea Corporation for a Propanol Expansion project at its manufacturing site at Bay City, Texas at an undisclosed amount. Propanol is used to manufacture products such as cosmetics and pharmaceuticals, printing inks, coatings, and adhesives.

Jacobs stated that it will be providing pre-construction planning and construction management services to help deliver the new Propanol 2 unit that will add a capacity of 100,000 metric ton per year of propanol and 40,000 metric ton per year of propionaldehyde. The facility is scheduled to commence operations in 2018. Once commissioned, the unit will enable Oxea for future growth and increased market demand. Oxea is already the largest producer of propanol worldwide, and one of the world’s leading suppliers of Oxo products such as alcohols, aldehydes, and acids.

“This project reflects our long-term selective growth strategy,” said Oxea Executive Vice President Global Sales and Oxo-Intermediates Purnendu Rai, “It helps us reinforce our strong position as the largest producer of propanol worldwide. Propanol 2 will provide Oxea with opportunities for further expansion into profitable growth areas.”

Stock Performance

Jacobs Engineering’s share price finished yesterday’s trading session at $54.78, marginally up 0.46%. A total volume of 603.57 thousand shares exchanged hands. The stock has advanced 10.04% and 23.17% in the last six months and past twelve months, respectively. The stock is trading at a PE ratio of 29.61 and has a dividend yield of 1.10%. At Wednesday’s closing price, the stock’s net capitalization stands at $6.63 billion.

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