STOCK TITAN

Jacobs Selected to Support South Africa Nuclear Power Plant Life Extension Program

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

Jacobs (NYSE:J) has been awarded a significant contract worth $1.2 billion to oversee engineering modifications at the Koeberg Nuclear Power Plant in Cape Town, South Africa. This initiative aims to extend the plant's operational life by 20 years, facilitating the replacement of six steam generators, each weighing 380 tons. Work will commence during a planned outage in January 2022, completing in two years. Koeberg accounts for 5% of South Africa's electricity and is critical to its energy mix.

Positive
  • Awarded a $1.2 billion contract for engineering modifications at Koeberg Nuclear Power Plant.
  • Project expected to extend the plant's operational life by 20 years.
  • Work to install six replacement steam generators will enhance plant efficiency.
Negative
  • None.

DALLAS, Aug. 12, 2021 /PRNewswire/ -- Jacobs (NYSE:J) was selected to carry out essential engineering modifications as part of a $1.2 billion (ZAR 20 billion) program to extend the operating life of the Koeberg Nuclear Power Plant near Cape Town, South Africa. Koeberg is South Africa's sole nuclear power plant and generates 5% of the country's electricity.

The project is in preparation for the installation of six replacement steam generators, each weighing about 380 tons and about 20 meters long, at the two-reactor plant operated by Eskom.

"This project is vital to maintain the pivotal role of nuclear power in South Africa's energy mix," said Jacobs Energy Security and Technology Senior Vice President Karen Wiemelt. "To date, this is the largest single contract for our nuclear team in South Africa, which has successfully completed numerous engineering, procurement and construction projects to support operations at Koeberg over the past 30 years."

Jacobs will be responsible for construction management related to modifications to the secondary turbine system. The scope of work includes prefabrication of piping, pipe supports and modification, and piping replacement; installation of on-site scaffolding, rigging and lagging; vessel modifications and strengthening; and replacement of forced air cooler units.

Work on replacing the steam generators for the first of Koeberg's two units is scheduled to start during a planned outage in January 2022, with the overall project taking two years to complete.

The current steam generators have been in service since the plant was connected to the national grid in 1984. Their replacement is an essential part of the plan to extend the operational life of Koeberg by approximately 20 years, from 40 to 60 years.

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, InstagramLinkedIn 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, including the emergence and spread of variants of COVID-19, 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 July 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

 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/jacobs-selected-to-support-south-africa-nuclear-power-plant-life-extension-program-301353623.html

SOURCE Jacobs

FAQ

What is the purpose of Jacobs' contract at Koeberg Nuclear Power Plant?

Jacobs' contract aims to carry out essential engineering modifications to extend the operational life of Koeberg by 20 years.

When is the work on the steam generators scheduled to start?

The work is scheduled to begin during a planned outage in January 2022.

How much is Jacobs' contract worth for the Koeberg project?

The contract is valued at $1.2 billion.

What percentage of South Africa's electricity is generated by Koeberg?

Koeberg generates approximately 5% of South Africa's electricity.

How many steam generators are being replaced at Koeberg?

Six steam generators are being replaced at Koeberg.

Jacobs Solutions Inc.

NYSE:J

J Rankings

J Latest News

J Stock Data

16.59B
122.53M
1%
86.57%
1.12%
Engineering & Construction
Heavy Construction Other Than Bldg Const - Contractors
Link
United States of America
DALLAS