Jacobs JV Wins Contract To Plan Norway Nuclear Decommissioning Program - Jacobs Solutions (NYSE:J)

Jacobs Engineering Group Inc's (NYSE:J) joint venture with Multiconsult Norge AS has been selected by Norsk Nukleær Dekommisjonering (NND) to plan the decommissioning of Norway's nuclear facilities.
In competitive bidding, the Jacobs/Multiconsult JV was ranked first and will have the first option to carry out work. The value of the six-year multi-award framework is estimated to be up to $100 million.
The initial focus of the framework contract will be on the nuclear fuel and materials testing reactor at Halden and the JEEP-II neutron scattering facility at Kjeller – which were shut down in 2018 and 2019, respectively.
The scope includes engineering concept design and planning new facilities, upgrading existing nuclear and non-nuclear facilities, supporting NND with technical documentation, and preparing safety cases to meet the ownership and operating license requirements.
"This important contract expands our footprint in the European nuclear decommissioning market, which is estimated at $63 billion (€60bn) by 2025," stated Jacobs Energy, Security and Technology SVP Karen Wiemelt.
Price Action: J shares are trading lower by 0.22% at $124.33 on the last check Wednesday.

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