DALLAS, March 27, 2020 /PRNewswire/ -- Jacobs (NYSE: J) was recently selected to partner with the City of Wilmington to operate and manage its wastewater treatment plant, combined sewer overflow facilities and its Renewable Energy Biosolids Facility (REBF). Located 30 minutes south of Philadelphia, Wilmington is Delaware's largest city and the state's economic engine, with a wastewater operation serving more than 400,000 residents.
The agreement, which combines the operations and maintenance of all facilities under Jacobs' management, has provisions for additional engineering studies and design-build projects to renew existing structures and develop value-added projects. The City of Wilmington estimates the base contract is valued at $20 million per year for an initial 20-year term, with options for two additional two-year extensions, for a possible contract term of 24 years.
Under the terms of the agreement, Jacobs will transition the operations of the wastewater treatment facilities from the existing contractor and assume full operating responsibility for the entire system starting July 1, 2020. The wastewater treatment plant has a maximum treatment design flow of 168 million gallons per day (MGD) and up to 320 MGD in wet weather, making the contract one of the largest public-private partnerships for wastewater operations in the U.S.
"This partnership leverages our capabilities across Jacobs' entire service offering," said Jacobs President and Chief Operating Officer Bob Pragada. "Our depth of resources can deliver comprehensive turnkey services through in-house resources – something no other O&M service provider can seamlessly offer."
Pragada continued, "This program builds on our current portfolio of more than 300 long-term O&M contracts supporting critical water and wastewater needs around the world. And at times like these, continuity and uninterrupted operation of these systems are essential services for the communities in which we live."
As part of the agreement, Jacobs will make significant facilities and systems investments in the first three years of the contract to improve operability and performance. In addition, Jacobs will work with the city to leverage new technologies and systems to realize the potential for the plant to become a net-zero energy facility and reduce greenhouse gas emissions in the future. The facility also plays a critical role in addressing the wastewater, stormwater and energy needs of the city, supporting the Wilmington 2028 initiative that's guiding growth and development.
"This agreement continues our strong partnership with Wilmington, not only in providing innovative engineering and technical services, but as we continue to invest in impactful community programs and protect the environment through our sustainability initiatives," says Jacobs People & Places Solutions Operations Management and Facilities Services Vice President Steve Meininger. "For Jacobs, sustainability also means supporting efforts that increase STEM opportunities for the youth, creating local jobs with our infrastructure projects and ensuring that we have a diverse workforce that brings the best possible solutions to the programs we deliver."
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 jacobs.com and connect with Jacobs on Facebook, Instagram, LinkedIn 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 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.
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