Jacobs Appointed East West Rail Program Partner

Rhea-AI Summary

Jacobs (NYSE:J) has been selected as a program partner for the East West Rail project, focusing on creating a new rail link between Oxford and Cambridge. The contract, valued at $50 million, spans three years and aims to integrate diverse supply chains effectively. This initiative is expected to boost economic growth and improve transportation links across key regions. Jacobs emphasizes its commitment to social value, sustainability, and community support, including mentoring and mental health resources, in line with the project’s objectives.

Positive

• Jacobs secured a $50 million contract as the East West Rail program partner.
• The project aims to drive economic growth and enhance transportation links in the region.
• Jacobs is committed to delivering social value and promoting sustainability.
• Investment in community support initiatives, including mental health resources, highlights Jacobs' focus on social outcomes.

Negative

• None.

DALLAS, July 16, 2021 /PRNewswire/ -- Jacobs (NYSE:J) has been appointed as the East West Rail program partner, providing a significant integration role across a diverse supply chain during the three-year development phase of this program to construct a new rail link between Oxford and Cambridge. 

As program partner, Jacobs unites world-class technical skills and best practice to drive opportunities for program innovation and outcome-focused benefits for the communities in the region. East West Rail estimates the contract value at $50 million (£35 million) over three years.

"East West Rail's intention to be a force for industry change and for the people and communities it will serve aligns with Jacobs' vision for creating a more connected and sustainable world," said Jacobs People & Places Solutions Senior Vice President Europe and Digital Strategies Donald Morrison. "This rail line will reconnect Oxford and Cambridge, separated since the closure of the 'Varsity Line' in the 1960s, and provide a sustainable transport link between Oxford, Bicester, Milton Keynes, Bedford and Cambridge."

The project intersects all the main north-south transport links from London and is key to enabling economic growth, jobs and new housing in the surrounding region. As a benchmark for future rail programs, it will also bring national benefits through enabling developments elsewhere that improve connections across the U.K.

Jacobs has committed to work with social enterprise partnerships, voluntary and community sector organizations, and small and medium–sized enterprises to deliver a program of social value including promoting the social mobility of young people and vulnerable adults in the region. An investment in sustainability innovation reflects Jacobs' passion for protecting the environment and supporting better social outcomes.

Program elements embrace upskilling, mentoring and support across areas such as business and finance planning, branding and leadership coaching, as well as guidance and tools – including Jacobs' One Million Lives free online mental health check-in tool designed to enhance users' understanding of their current state of mind and provide proactive strategies for personal mental health development.

EWR Co Program Delivery Director Ian Parker said: "A project of the complexity and size of East West Rail requires a wide range of different types of resource as it develops. In this critical, yet early stage of our development as a business, it is vital that we have access to people who are at the top of their field across various areas of our business on a flexible basis. Jacobs will support us as we work towards creating a permanent workforce and build relationships with Enterprise partners into the future.

"A key aspect of our decision was the commitment that Jacobs have made for social value outcomes along the route. As well as Jacobs' internationally renowned reputation for world-class technical skills, they also have a proven track record in delivering strong, impactful social value – and are passionate about protecting the environment and promoting social mobility.  These values are something that are at the core of what we want to achieve at EWR Co, delivering real difference for the communities along the route that we will serve."

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 $14 billion in revenue and a talent force of approximately 55,000, 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 Twitter.

Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Statements made in this release that are not based on historical fact are 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, the impact of the COVID-19 pandemic and the related reaction of governments on global and regional market conditions and the company's business. For a description of some additional factors that may occur that could cause actual results to differ from our forward-looking statements, see our Annual Report on Form 10-K for the year ended October 2, 2020, and in particular 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, and our Quarterly Report on Form 10-Q for the quarter ended April 2, 2021, and in particular the discussions contained under Part I, Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations; Part II, Item 1 - Legal Proceedings; and Part II, Item 1A - Risk Factors, 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.

For press/media inquiries:
Kerrie Sparks
214.583.8433

 

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SOURCE Jacobs

FAQ

What is the contract value for Jacobs with East West Rail?

The contract value for Jacobs as the East West Rail program partner is $50 million over three years.

When was Jacobs appointed as the East West Rail program partner?

Jacobs was appointed as the East West Rail program partner on July 16, 2021.

What will Jacobs' role be in the East West Rail project?

Jacobs will play a significant integration role across a diverse supply chain during the development phase of the East West Rail project.

What are the expected benefits of the East West Rail project?

The East West Rail project is expected to enable economic growth, new housing, and improve transportation links between Oxford and Cambridge.

How does Jacobs plan to support community and social value through the project?

Jacobs plans to work with social enterprises and provide support for social mobility and community initiatives, including mental health resources.