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Technical, professional and construction services provider, Jacobs Engineering Group Inc. (JEC - Analyst Report) recently entered into a contract with Central Texas Regional Mobility Authority. The project, valued at $6.0 million, relates to the road projects located in the MoPac South corridor in Austin, Texas.
Per the contract, Jacobs will take up the responsibility of supervising environmental and preliminary engineering services together with public involvement efforts for the development of roughly 9 miles of roadway in the MoPac corridor.
Apart from Jacobs, there are a number of other parties involved in the execution of the project. The other participants include the General Engineering Consultant (GEC), staff from the Mobility Authority, specialty consultants and Texas Department of Transportation (TxDOT).
This contract, which we consider to be an extension of the long standing relationship between the Mobility Authority and Jacobs, is expected to be fruitful.
On the same day, Jacobs also announced a renewal of the frame agreement with the Austria based company Borealis. The project is located at Stenungsund, Sweden.
The value of the contract is undisclosed, however, the contract spans a wide range of projects, each having a total installed cost of roughly $11.0 million. Jacobs will provide procurement, engineering, construction management and project management services.
The contract is an extension of the ten year old relationship between the two companies in Sweden.
Jacobs currently carries a Zacks Rank #3 (Hold). Other stocks to watch out for in the construction industry are Michael Baker Corporation , carrying a Zacks Rank #1 (Strong Buy); while, Harris & Harris Group, Inc. (TINY) and Quanta Services, Inc. (PWR - Analyst Report), carry a Zacks Rank #2 (Buy).