Jacobs Engineering (JEC) Secures Role In KL-SG HSR Project
Zacks Investment Research | Aug 15, 2017 09:01PM ET
Jacobs Engineering Group Inc. (NYSE:JEC) recently won a planned Reference Design Consultant (RDC) package deal from the Malaysian transportation authorities.
The RDC package deal secured by Jacobs is one among the six coveted to accomplish the prestigious Kuala Lumpur-Singapore High Speed Rail venture (KL-SG HSR). The project was first announced in September 2010 by the Malaysian Prime Minister, who discussed its purpose to connect Johor Bahru and Kuala Lumpur with Singapore. This 350-kilometer rail link will enable travelers complete the journey between Kuala Lumpur and Singapore within a short span of 90 minutes. Construction of the project commenced early this year and is anticipated to close by 2026.
Per the RDC deal, Jacobs will design five intermediate rail stations in Malaysia. The company will also provide other HSR infrastructure services, such as developing stations and encircling the same with access highway, roads and pedestrian links.
Existing Scenario
Challenging energy market conditions, lackluster field services business and reduced public spending in the UK are expected to dent Jacobs’ near-term results. Notably, over the last month, the company’s shares lost 5.11%, wider than the 2.30% loss incurred by the Zacks Investment Research
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