Jacobs Bags Contract To Support South Africa Nuclear Power Plant Life Extension Program For Undisclosed Sum

Jacobs Engineering Group Inc J was selected to carry out essential engineering modifications as part of a $1.2 billion program to extend the operating life of the Koeberg Nuclear Power Plant near Cape Town, South Africa. The financial terms of the contract were not disclosed.
Koeberg nuclear power plant generates 5% of South Africa's electricity.
The project is in preparation for installing six replacement steam generators, each weighing about 380 tons and about 20 meters long, at the two-reactor plant operated by Eskom.
Jacobs will be responsible for construction management related to modifications to the secondary turbine system.
Work on replacing the steam generators for the first of Koeberg's two units is scheduled to start during a planned outage in January 2022.
Price Action: J shares traded higher by 2.24% at $139.19 on the last check Thursday.