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| Jacobs/Serco/Lockheed Martin JV concludes AWE pricing arrangements through to 2018 Pasadena, California based Jacobs Engineering Group Inc., one of the world's largest and most diverse providers of technical, professional, and construction services, announced that AWE Management Ltd (AWE ML), in which it has a one third share, has concluded the arrangements for the next pricing period regarding the contract to Manage and Operate the Atomic Weapons Establishment (AWE) plc in the United Kingdom. Formed in 2000, AWE ML is a joint venture between Jacobs, Lockheed Martin and Serco to manage AWE plc on behalf of the UK Ministry of Defence (MOD). The conclusion of recent negotiations is an important milestone although the contract has no material changes. The new arrangements will take effect from 1 April 2013 and run through to 31 March 2018. The total value to AWE ML is an average of around 1 billion GBP (USD 1.59 billion) per year with approximately 40 percent to be invested in capital projects. AWE ML manages AWE plc for the MOD under a Government Owned/Contractor Operated arrangement. AWE's sites and facilities remain in government ownership, but day-to-day management is contracted to AWE ML. The AWE ML contract is performance based. write your comments about the article :: © 2012 Construction News :: home page |