Jacobs Awarded Contract for Metro Vancouver Critical Water Program

Rhea-AI Summary

Jacobs (NYSE: J) has been selected by Metro Vancouver to provide program management services for the Coquitlam Lake Water Supply Project in British Columbia, Canada. The project aims to expand capacity for accessing, treating, and distributing water from Coquitlam Lake, the region's largest drinking water source.

The infrastructure development includes a state-of-the-art intake facility, a 5.3-mile water supply tunnel, and a new treatment plant to serve 2.7 million residents. As program manager, Jacobs will oversee permitting, design, project controls, construction, and deliver technical services including a treatment pilot study.

The project focuses on increasing system resilience to climate change and meeting future water demand in the region.

Positive

• Secured major water infrastructure contract in Metro Vancouver
• Project serves large customer base of 2.7 million residents
• Strengthens company's position in water infrastructure sector
• Adds to portfolio of significant water management projects globally

Negative

• None.

Insights

Infrastructure Development Analyst

The Coquitlam Lake Water Supply Project represents a significant infrastructure development opportunity for Jacobs. The comprehensive scope includes critical components like a new intake facility, an 8.5 km water supply tunnel and a treatment plant, positioning this as a major long-term revenue generator. The project aligns with growing infrastructure demands in high-growth regions and climate resilience initiatives.

Jacobs' selection as program manager leverages their proven expertise in large-scale water infrastructure projects, as evidenced by their #1 ranking in Program Management. This contract adds to their robust portfolio of similar projects like the Thames Tideway Tunnel and Central Interceptor, reinforcing their market leadership in water infrastructure. The project's focus on climate resilience and future capacity needs indicates strong potential for additional phases and expanded scope over time.

Water Resources Expert

This project addresses critical water security challenges in a major metropolitan area serving 2.7 million residents. The comprehensive approach, combining new intake facilities, tunneling and treatment capabilities, demonstrates forward-thinking water resource management. The inclusion of climate change considerations and future demand planning significantly enhances the project's long-term value proposition.

The pilot study component suggests potential for innovative treatment technologies and methodologies that could be replicated in other markets. Metro Vancouver's investment in this infrastructure indicates strong municipal commitment to water security, which typically translates to stable, long-term project funding and potential for additional related contracts.

Coquitlam Lake Water Supply Project will deliver resilient infrastructure for growing demand in British Columbia, Canada

DALLAS, Dec. 11, 2024 /PRNewswire/ -- Jacobs (NYSE: J) was selected by Metro Vancouver, a regional district in British Columbia, Canada to provide program management services for the Coquitlam Lake Water Supply Project. The project will expand capacity for accessing, treating and distributing water from Coquitlam Lake, the region's largest drinking water source, while increasing the system's resilience to climate change.

The infrastructure includes building a state-of-the-art intake facility, a 5.3-mile (8.5 km) water supply tunnel and a new treatment plant to serve the region's 2.7 million residents and meet future demand. As the program manager, Jacobs will oversee permitting, design, project controls and construction of the critical water infrastructure as well as deliver supporting technical services and a treatment pilot study.

"Addressing challenges like climate change, water scarcity, aging infrastructure and emerging contaminants makes managing essential water resources more complex than ever," said Jacobs Senior Vice President Katus Watson. "Metro Vancouver's Coquitlam Lake Water Supply Project is securing the region's water future. By working together with these local communities, we're enhancing capacity and fostering resilience for generations to come."

Ranked as No.1 in Program Management by Engineering News-Record, Jacobs delivers today's most complex, challenging and iconic infrastructure and transformation programs. Jacobs has supported programs like the multi-year program to upgrade Metro Vancouver's Iona Island Wastewater Treatment Plant, southern California's Pure Water Project Las Virgenes-Triunfo, which is securing a more resilient drinking water supply in the region, the Thames Tideway Tunnel, one of the largest water infrastructure projects ever undertaken in the U.K., and Central Interceptor, New Zealand's largest-ever wastewater project. 

At Jacobs, we're challenging today to reinvent tomorrow – delivering outcomes and solutions for the world's most complex challenges. With approximately $12 billion in annual revenue and a team of almost 45,000, we provide end-to-end services in advanced manufacturing, cities & places, energy, environmental, life sciences, transportation and water. From advisory and consulting, feasibility, planning, design, program and lifecycle management, we're creating a more connected and sustainable world. See how at 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, uncertainties as to the impact of the recently completed separation transaction pursuant to which we spun off and merged our Critical Missions Solutions and Cyber & Intelligence government services businesses with Amentum  (together, "new Amentum ") on Jacobs' and new Amentum's businesses, 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, increased uncertainty and risks, including policy risks and potential civil unrest, relating to the outcome of elections across our key markets and elevated geopolitical tension and conflicts, among others, 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, and Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations; Item 1 - Legal Proceedings; and Item 1A - Risk Factors in our most recently filed Quarterly Report on Form 10-Q, 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 scope of Jacobs' (NYSE: J) Coquitlam Lake Water Supply Project contract?

Jacobs will provide program management services, including overseeing permitting, design, project controls, construction, and technical services for a new intake facility, 5.3-mile water supply tunnel, and treatment plant.

How many residents will the Coquitlam Lake Water Supply Project serve?

The project will serve 2.7 million residents in the Metro Vancouver region of British Columbia, Canada.

What is the length of the water supply tunnel in the Jacobs (J) Metro Vancouver project?

The water supply tunnel will be 5.3 miles (8.5 km) long.

How will Jacobs' Coquitlam Lake project address climate change?

The project will increase the water system's resilience to climate change while expanding capacity for accessing, treating, and distributing water from Coquitlam Lake.

What technical services will Jacobs (J) provide for the Metro Vancouver water project?

Jacobs will provide program management services, technical services, and conduct a treatment pilot study for the project.