Jacobs Pockets $302M Rail Contract In Singapore

Jacobs Engineering Group Inc J has been appointed the design consultant for the design and construction of the Tavistock Station and Tunnels as part of the Cross Island Line Phase 1 project in Singapore. The contract is worth $302 million (S$407 million).
Jacobs will collaborate with Sato Kogyo, which was granted the contract by Singapore's Land Transport Authority, to offer civil, structural, and architectural design services and essential oversight during the project's construction.
The Cross Island Line Phase 1 comprises 12 stations, including the Tavistock Station.
Tavistock station construction began in May, with passenger service for Cross Island Line Phase 1 set to start in 2030.
Price Action: J shares are trading lower by 3.26% at $133.23 on the last check Wednesday.