Jacobs Engineering Group Inc. (JEC - Analyst Report), a construction services provider, recently received a contract from China-based company, Jiangsu Sailboat Petrochemical Co. Ltd. for designing a sulfuric acid plant for an undisclosed amount. The plant is based in Lianyungang, Jiangsu.
Jacobs will supply complete designing as well as technical advisory services for the construction and commissioning of the plant. Per the terms of the contract, the plant will be the first regeneration facility in China to use Jacobs’ proprietary SAR (Sulfuric Acid Regeneration) and SAC (Sulfuric Acid Concentration) technologies, resulting in lower energy requirements for the plant.
This contract, however, is not the first one relating to the sulfuric acid plants. Prior to this, in late October last year, Jacobs inked an agreement with India-based Paradeep Phosphates Limited, for the use of project management consultancy (PMC) services in the sulfuric acid plant based in the country. With an undisclosed value, the project was supposed to last for 24 months.
Jacobs has been apt at achieving a good number of projects, while showing equal efficiency in implementing them. This week Jacobs was awarded the 2012 Best Civil Works/Infrastructure Award from Engineering News-Record (ENR). The award relates to its operations at the Yellow River Water Reclamation Facility, which was worth $245.0 million, and was completed 12 months prior to the expected duration. Jacobs provided engineering and construction services for the same.
Jacobs currently holds a Zacks Rank #2 (Buy). Other stocks worth a look in the services industry are AECOM Technology Corporation (ACM - Analyst Report), Tyco International (TYC - Analyst Report) and Mistras Group Inc. (MG - Snapshot Report); each of these also hold a Zacks Rank #2 (Buy).