Jacobs Appointed as Sunwater's Engineering and Professional Services Partner

Rhea-AI Summary

Jacobs (NYSE:J) appointed as Engineering and Professional Services Partner by Sunwater Limited in Queensland, Australia. Jacobs to deliver engineering consulting services to support water infrastructure upgrade projects, including civil, hydraulic, geotechnical, electrical, and mechanical disciplines. Sunwater aims to upgrade six dams by 2035 to maintain a safe, secure water supply for the region.

Insights

Environmental Engineer

Engaging in large-scale infrastructure projects, especially those related to water management and climate resilience, is a critical aspect of environmental engineering. The partnership between Jacobs and Sunwater represents a significant commitment to enhancing water infrastructure, which is essential for the sustainability of regional economies and ecosystems. The initiative to upgrade dams by 2035 underlines the proactive approach towards securing water resources in the face of climate change.

The technical expertise required for this project spans multiple engineering disciplines, underscoring the complexity of the endeavor. The focus on building internal technical proficiency within Sunwater aligns with industry trends towards capacity building and knowledge transfer, ensuring long-term operational efficiency. The environmental implications are substantial, as improved water management systems can lead to better conservation and allocation of water resources.

Financial Analyst

From a financial perspective, the appointment of Jacobs as part of the Prosperity Joint Venture is anticipated to have a positive impact on the company's revenue stream over the initial five-year period, with the potential for extension. The statement hints at future capital expenditure programs, which could signal significant investment and growth opportunities for Jacobs. Investors and stakeholders might view this partnership as a strategic move to secure long-term contracts that can provide stable cash flows.

However, the financial details of the contract are not disclosed, making it difficult to quantify the immediate impact on Jacobs' financials. The mention of a $15 billion annual revenue figure provides context to the scale at which Jacobs operates, suggesting that the deal could be substantial relative to the size of their existing contracts.

Industry Analyst

The collaboration between Jacobs and Sunwater through the Prosperity Joint Venture is indicative of the growing trend in public-private partnerships to address infrastructure needs. This is particularly relevant in the water sector, where aging infrastructure and increased demand due to population growth and climate change are pressing concerns. By leveraging Jacobs' global expertise, Sunwater is positioning itself to enhance the resilience of its water assets, which is critical for the agriculture, urban and industrial sectors that it serves.

The strategic nature of this partnership also reflects the broader industry's shift towards sustainability and resilience in asset management. As such, the project could set a precedent for similar initiatives globally, potentially influencing market expectations and standards for infrastructure development and maintenance.

Supports climate response through resilient water and asset management

DALLAS, Dec. 19, 2023 /PRNewswire/ -- Jacobs (NYSE:J), as part of the Prosperity Joint Venture with AECOM, has been appointed as Engineering and Professional Services Partner by Sunwater Limited, a bulk water service provider in Queensland, Australia. The appointment is for an initial five-year period with possible extension for another five years at the end of the term.

As part of the Prosperity Joint Venture, Jacobs will deliver engineering consulting services to support Sunwater's water infrastructure upgrade projects across all disciplines, including civil, hydraulic, geotechnical, electrical, mechanical and asset management. A significant component of the contract is upgrading six dams by 2035 to maintain a safe, secure water supply for the region as part of the Dam Improvement Program.

"Our appointment is testament to our technical excellence in water and ability to leverage our global dam engineering capability to support Sunwater's forward capital expenditure program," said Jacobs Senior Vice President Keith Lawson. "Through collaborating with Sunwater and our JV partner as an integrated team we will deliver Sunwater's extensive program of work. Our aim is to help Sunwater grow their internal technical proficiency in engineering, asset management and adaptive planning, enabling them to achieve their strategic objectives."

Sunwater owns and operates 19 dams, 64 barrages, 1,951km of pipelines and 595km of water channels across regional Queensland. It manages water supply for more than 5,000 agriculture, urban and industrial customers and delivers 40% of water used commercially in Queensland.

"To successfully deliver a substantial and complex capital works program, Sunwater needs to work with the industry's best," said Sunwater CEO Glenn Stockton. "Our partnership with the Prosperity Joint Venture will provide the necessary skills and capabilities to build, operate, and maintain water infrastructure assets critical to Queensland's economy. By bringing together recognized industry leaders, we aim to create capacity growth to safely deliver high-quality projects that will generate water for the prosperity of future generations."

At Jacobs, we're challenging today to reinvent tomorrow by solving the world's most critical problems for thriving cities, resilient environments, mission-critical outcomes, operational advancement, scientific discovery and cutting-edge manufacturing, turning abstract ideas into realities that transform the world for good. With approximately $15 billion in annual revenue and a talent force of more than 60,000, Jacobs provides a full spectrum of professional services including consulting, technical, scientific and project delivery for the government and private sector. Visit jacobs.com and connect with Jacobs on Facebook, Instagram, LinkedIn and X.

Certain statements contained in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not directly relate to any historical or current fact. When used herein, words such as "expects," "anticipates," "believes," "seeks," "estimates," "plans," "intends," "future," "will," "would," "could," "can," "may," and similar words are intended to identify forward-looking statements. We base these forward-looking statements on management's current estimates and expectations, as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements including, but not limited to, our plans to spin off and merge with Amentum our Critical Missions Solutions  business and a portion of our Divergent Solutions business in a proposed transaction that is intended to be tax-free to stockholders for U.S. federal income tax purposes, the timing of the award of projects and funding and potential changes to the amounts provided for under the Infrastructure Investment and Jobs Act and other legislation related to governmental spending, as well as general economic conditions, including inflation and the actions taken by monetary authorities in response to inflation, changes in interest rates and foreign currency exchange rates, changes in capital markets, the possibility of a recession or economic downturn, geopolitical events and conflicts, and the impact of any future pandemic or infectious disease outbreak, including the related reaction of governments on global and regional market conditions, among others. For a description of some additional factors that may occur that could cause actual results to differ from our forward-looking statements, see the discussions contained under Item 1 - Business; Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations in our most recently filed Annual Report on Form 10-K, as well as the company's other filings with the Securities and Exchange Commission. The company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.

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SOURCE Jacobs

FAQ

What is the latest partnership announcement involving Jacobs (NYSE:J)?

Jacobs has been appointed as Engineering and Professional Services Partner by Sunwater Limited in Queensland, Australia.

What are the services that Jacobs will provide as part of the partnership with Sunwater Limited?

Jacobs will deliver engineering consulting services to support water infrastructure upgrade projects across various disciplines, including civil, hydraulic, geotechnical, electrical, and mechanical.

What is the goal of the Dam Improvement Program mentioned in the press release?

The goal of the Dam Improvement Program is to upgrade six dams by 2035 to maintain a safe, secure water supply for the region.

What are the key responsibilities of Sunwater Limited in Queensland, Australia?

Sunwater Limited owns and operates 19 dams, 64 barrages, 1,951km of pipelines, and 595km of water channels across regional Queensland, managing water supply for agriculture, urban, and industrial customers.

What is the annual revenue of Jacobs?

Jacobs has approximately $15 billion in annual revenue.