Jacobs Named Construction Manager as Advisor of Fermilab's DUNE Near Site
Rhea-AI Summary
Jacobs (NYSE: J) has been selected as the Construction Manager as Advisor (CMa) for the Long-Baseline Neutrino Facility (LBNF) Near Site Conventional Facilities project at Fermilab in Batavia, Illinois. The company will provide project and construction management and safety oversight for facilities housing the Deep Underground Neutrino Experiment (DUNE) Near Detector.
This selection builds on Jacobs' decade-long relationship with Fermilab and showcases the company's expertise in complex underground infrastructure projects. The DUNE program is a major international scientific collaboration involving more than 1,400 scientists and engineers worldwide studying neutrinos with detectors in Illinois and South Dakota.
The total project cost exceeds $1 billion, with construction expected to begin in 2025. Jacobs brings significant experience from previous complex projects including the Grand Central Madison program and Thames Tideway Tunnel.
Jacobs currently generates approximately $12 billion in annual revenue and employs a team of almost 45,000 people delivering services across multiple sectors including advanced manufacturing, energy, environmental, and transportation.
Positive
- Secured major contract for $1+ billion scientific infrastructure project
- Builds on 10+ year relationship with Fermilab
- Leverages expertise in complex underground infrastructure
- Construction expected to commence in 2025
- Project showcases company's specialized capabilities in research facilities
Negative
- Project subject to government funding uncertainties
- Complex scientific project carries execution risks
- Potential exposure to inflation and interest rate fluctuations
News Market Reaction
On the day this news was published, J declined 0.97%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Complex infrastructure project will support facilities for the Deep Underground Neutrino Experiment at
Fermilab is one of the premier
Jacobs has a long track record delivering complex underground and deep concrete infrastructure programs. Key projects include, Metropolitan Transportation Authority's Grand Central Madison program, the RiverRenew Tunnel Project, the Northgate Link Light Rail, the Ohio River Bridges East End Crossing Tunnel, and the Thames Tideway Tunnel (one of the largest water infrastructure projects ever undertaken in the
"Building upon our 10+ years supporting Fermilab, our selection for this contract demonstrates Jacobs' experience delivering infrastructure projects for some of the world's most advanced scientific facilities," said Jacobs Executive Vice President Susannah Kerr. "This project particularly showcases our in-depth knowledge in deep surface excavation and foundation systems, construction of complex research facilities, construction safety and intricate concrete structures and directly supports the potential for scientific discovery."
"The DUNE program and LBNF facility will perform incredible, world-leading science enabled by an amazing and complex experiment system constructed in both
As the host laboratory for DUNE, Fermilab is collaborating with funding agencies and more than 1,400 scientists and engineers worldwide to study neutrinos using massive neutrino detectors at Fermilab in
At Jacobs, we're challenging today to reinvent tomorrow – delivering outcomes and solutions for the world's most complex challenges. With approximately
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.
For press/media inquiries:
media@jacobs.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/jacobs-named-construction-manager-as-advisor-of-fermilabs-dune-near-site-302383168.html
SOURCE Jacobs
FAQ
What role will Jacobs (J) play in Fermilab's DUNE Near Site project?
When is construction expected to begin on the Fermilab LBNF project that Jacobs (J) will manage?
What is the total cost of the DUNE project that Jacobs (J) will be involved with?
How many scientists and engineers are collaborating on the DUNE project that Jacobs (J) will support?
What similar complex infrastructure projects has Jacobs (J) completed before the Fermilab contract?
How long has Jacobs (J) been supporting Fermilab before winning this DUNE Near Site contract?
