STOCK TITAN

Jacobs to Lead Key Decommissioning Projects at Dounreay Nuclear Site

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

Jacobs (NYSE:J) has secured two decommissioning contracts at the Dounreay nuclear site in Scotland, valued at $15.9 million. The company will upgrade the ventilation systems for the Prototype Fast Reactor (PFR) under a $9.94 million contract and develop the decommissioning strategy for the Fast Reactor Fuel Reprocessing Plant (FRFRP) under a $5.96 million contract. These projects are essential for environmental control and are expected to be completed over the next 10-15 years.

Positive
  • Secured contracts for decommissioning valued at $15.9 million, enhancing revenue.
  • Strengthens presence in nuclear decommissioning sector with significant projects.
Negative
  • None.

DALLAS, Aug. 4, 2021 /PRNewswire/ -- Jacobs (NYSE:J) was selected to lead two decommissioning projects at the Dounreay nuclear site in Scotland, U.K., which Dounreay Site Restoration Ltd (DSRL) estimates to have a combined value of $15.9 million (£11.2 million).

Jacobs will upgrade the ventilation systems for the Prototype Fast Reactor (PFR) under a $9.94 million (£7 million) contract from DSRL, the company responsible for cleaning up the site, on behalf of the Nuclear Decommissioning Authority.

DSRL has also chosen Jacobs to develop the decommissioning strategy for the Fast Reactor Fuel Reprocessing Plant (FRFRP) under a contract worth $5.96 million (£4.2 million).

"We will deploy our full range of project management, technical and delivery capabilities for these projects, which involve some of the most challenging buildings at Dounreay and are crucial to achieve the scheduled interim end state," said Jacobs Energy, Security and Technology Senior Vice President Karen Wiemelt. "These projects continue the complex work Jacobs has performed to make the site and surrounding areas safe and clean for future generations."

DSRL Head of Reactors Phil Cartwright said: "At PFR there are a number of unique decommissioning challenges. Replacement of the ventilation system will enable us to safely complete the decommissioning work, whilst ensuring the required environmental controls are in place, over the next 10-15 years."

The scope of the PFR project includes removal of the existing vent plant and design, manufacturing, testing, installation and commissioning of a new discharge stack, new supply and extract fans, new HEPA filters, replacement of containment dampers, discharge contamination monitoring equipment and a new tritium monitoring system. Designed in the early 1960s, the PFR was a MOX-fueled, liquid sodium-cooled fast reactor, which began supplying the National Grid in January 1975 and was taken offline in 1994.

The FRFRP, built in the 1950s to reprocess spent fuel from the U.K.'s experimental fast reactors, ceased operations in the mid-1990s.

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 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

Credit: Dounreay Site Restoration Ltd; Jacobs to Lead Key Decommissioning Projects at Dounreay Nuclear Site

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/jacobs-to-lead-key-decommissioning-projects-at-dounreay-nuclear-site-301345680.html

SOURCE Jacobs

FAQ

What contracts did Jacobs secure at the Dounreay nuclear site?

Jacobs secured two decommissioning contracts totaling $15.9 million.

What is the value of the Prototype Fast Reactor upgrade contract?

The upgrade contract for the Prototype Fast Reactor is worth $9.94 million.

How long are the decommissioning projects expected to take?

The decommissioning projects are expected to be completed over the next 10-15 years.

What is the contract value for the Fast Reactor Fuel Reprocessing Plant decommissioning strategy?

The contract for the FRFRP decommissioning strategy is valued at $5.96 million.

Jacobs Solutions Inc.

NYSE:J

J Rankings

J Latest News

J Stock Data

17.49B
124.25M
1%
87.77%
1.09%
Engineering & Construction
Heavy Construction Other Than Bldg Const - Contractors
Link
United States of America
DALLAS