Jacobs to Help Modernize Sydney Rail Network

Rhea-AI Summary

Jacobs (NYSE:J) has partnered with Australian rail group John Holland to provide design and construction services for the More Trains, More Services project in Sydney, valued at approximately $195 million AUD. This initiative aims to upgrade critical infrastructure along the T4 Illawarra, T8 Airport, and South Coast lines, enhancing reliability and service frequency for commuters. Construction is expected to begin mid-2020, ahead of improvements slated for late 2022. The project is part of the New South Wales Government's modernization program over the next decade.

Positive

• Jacobs is involved in a significant project worth approximately $195 million AUD, enhancing its revenue prospects.
• The project is set to create hundreds of new jobs, positively impacting local economies.

Negative

• No significant financial risks or decreases identified within the project scope.

DALLAS, July 21, 2020 /PRNewswire/ -- Jacobs (NYSE:J) and Australian rail group John Holland will deliver design and construction services to Transport for New South Wales (TfNSW) for the More Trains, More Services - North Works Package project.

The project will upgrade critical infrastructure along the T4 Illawarra, T8 Airport and South Coast lines between Central and Hurstville in Sydney, supporting the roll out of new suburban and intercity trains, removing bottlenecks and increasing the reliability and frequency of services for Sydney rail customers. Jacobs will deliver rail design and construction support services for the project.

TfNSW estimates the project is worth approximately $195 million (AUD $300 million) and expects construction to begin in mid-2020, well ahead of service improvements planned for late 2022.

"Sydney is home to one of the largest commuter rail networks in Australia," said Jacobs People & Places Solutions Senior Vice President Global Operations Patrick Hill. "We're pleased to be working with TfNSW and John Holland to help modernize the network, supporting new train technologies and transforming the travel experience of train customers for the better."

Over the next 10 years, the New South Wales Government's More Trains, More Services program will modernize Sydney's rail network and roll out world class technology to transform the rail network and provide customers with more reliable, high capacity train services.

"We have a proud history of working with the NSW Government to deliver world-class rail projects across the state," said John Holland Executive General Manager Steve Butcher. "We're thrilled to partner with Jacobs on this project, which will deliver hundreds of new jobs, supporting communities and the economy at this critical time."

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 $13 billion in revenue and a talent force of more than 55,000, Jacobs provides a full spectrum of professional services including consulting, technical, scientific and project delivery for the government and private sector. Visit -1%26h%3D4257239548%26u%3Dhttp%253A%252F%252Fwww.jacobs.com%252F%26a%3Djacobs.com&a=jacobs.com" rel="nofollow">jacobs.com and connect with Jacobs on -1%26h%3D957417935%26u%3Dhttps%253A%252F%252Fwww.facebook.com%252FJacobsConnects%26a%3DFacebook&a=Facebook" rel="nofollow">Facebook, -1%26h%3D2905716696%26u%3Dhttps%253A%252F%252Fwww.instagram.com%252Fjacobsconnects%26a%3DInstagram&a=Instagram" rel="nofollow">Instagram, -1%26h%3D3445181529%26u%3Dhttps%253A%252F%252Fwww.linkedin.com%252Fcompany%252Fjacobs%252F%26a%3DLinkedIn&a=LinkedIn" rel="nofollow">LinkedIn and -1%26h%3D2207383687%26u%3Dhttps%253A%252F%252Ftwitter.com%252FJacobsConnects%26a%3DTwitter&a=Twitter" rel="nofollow">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 September 27, 2019, 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, 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 value of the More Trains, More Services project that Jacobs is involved in?

The project is valued at approximately $195 million AUD.

When is construction expected to begin for the Sydney rail project?

Construction is expected to begin in mid-2020.

What services will Jacobs provide for the More Trains, More Services project?

Jacobs will deliver design and construction support services for the project.

What are the expected benefits of the More Trains, More Services project for Sydney?

The project will enhance the reliability and frequency of rail services for Sydney commuters.

How many jobs will the More Trains, More Services project create?

The project is expected to deliver hundreds of new jobs.