Jacobs (JEC) Wins PMC Services Deal From PEMEX Fertilizantes
Zacks Investment Research | Aug 16, 2017 10:22PM ET
Jacobs Engineering Group Inc. (NYSE:JEC) recently secured a contract from the Mexican fertilizer producer, PEMEX Fertilizantes, for providing Project Management Contract (PMC) services in the latter’s Ammonia IV Rehabilitation Project. As a PMC contractor, Jacobs will oversee the activities of the Engineering, Procurement and Construction contractor of the project.
The Ammonia IV Rehabilitation Project of PEMEX Fertilizantes will be based in its Cosoleacaque Petrochemical Complex at Veracruz, Mexico. The company has been rehabilitating this plant and its secondary facilities, in order to bring down the risks associated with unplanned shutdowns and abnormal operations. Moreover, this is anticipated to help restore the original operating design capacity of the facilities.
Jacobs noted that it would successfully and safely accomplish the PMC services of the project. Prior to this, the company has displayed an outstanding performance as the PMC service provider for the Minatitlan Refinery Reconfiguration Project.
Existing Scenario
Challenging energy market conditions, lackluster field services business and reduced public spending in the UK are expected to dent the near-term results for Jacobs. Notably, over the last month, the company’s shares lost 2.30%, wider than the 1.99% loss incurred by the Zacks Investment Research
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