Renowned technical services company Jacobs Engineering Group Inc.’s JEC joint venture (“JV”) with premium management, engineering and specialist technical services company, Aurecon, was recently awarded a new contract for the Melbourne Metro Rail Project. The value of the contract remains undisclosed.

Aurecon Jacobs Mott MacDonald (‘‘AJM’’) JV is appointed as the technical, engagement and planning advisor for the Melbourne Metro Rail Project in Victoria, Australia. The scheme would help expand the capacity of Melbourne’s existing rail network, apart from aiding its transformation into an international metro-style rail arrangement. Post completion, the deal will enable 20,000 additional passengers to avail the rail network during peak working hours, thereby easing the congestion in the St. Kilda Road/Swanston Street to some extent.

Jacobs is one of the leading providers of technical services and construction solutions for diversified public, industrial and commercial clients in the global forum. The company remains keen on improving its business through suitable organic growth plans. We believe the newly-secured city-shaping rail contract would further reinforce the firm’s growth trajectory and help augment revenues as well as brand status in the near future.

Stocks to Consider

Jacobs currently carries a Zacks Rank #2 (Buy). Other well-ranked stocks in the industry include AECOM ACM, Layne Christensen Company LAYN and Willdan Group, Inc. WLDN. All three stocks carry the same Zacks Rank as Jacobs.

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