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Bassim Shebaro: Jacobs Engineering Raises Stake in Saudi Arabian Venture by 15%

JACOBS logo_GovConWireJacobs Engineering Group (NYSE: JEC) has increased its stake in Saudi Arabia-based construction and engineering services company Jacobs ZATE from 60 percent to 75 percent.

Bassim Shebaro, Jacobs group vice president, said Tuesday the investment is part of the company’s efforts to grow its presence in the Saudi Arabian market.

Jacobs ZATE was formed in March 2008 following Jacobs Engineering Group’s purchase of a 60 percent stake in Zamel & Turbag Consulting Engineers.

The venture employs more than 1, 500 workers and offers project management, engineering design, operations, procurement and maintenance services to the energy, chemicals, mining and infrastructure sectors.

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