Market Overview

Foster Wheeler Awarded Contract for Circulating Fluidized-Bed Steam Generator in the Philippines

Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of its Global Power Group has been awarded a contract by Daelim Industrial Co., Ltd. for the design and supply of one circulating fluidized-bed (CFB) steam generator for the SM200 Phase 1 Coal Fired Power Station for Sarangani Energy Corporation, a joint venture company between Alsons Consolidated Resources, Inc. and Toyota Group.

Foster Wheeler has received a full notice to proceed on this contract. The terms of the agreement were not disclosed and the contract value will be included in the company's first quarter 2013 bookings. Commercial operation of the new steam generator is scheduled for 2015.

Foster Wheeler will design and supply the 100 MWe (net megawatt electric) CFB steam generator plus auxiliary equipment for the project which is located in the province of Sarangani on Southern Mindanao, Philippines. The CFB steam generator will be designed to burn coal while meeting applicable environmental regulatory requirements.

“We appreciate the opportunity to showcase our fuel-flexible and environmentally friendly CFB which will provide power to the local residents in the Philippines,” said Gary Nedelka, Chief Executive Officer of Foster Wheeler's Global Power Group. “Foster Wheeler's CFB technology is an important part of the solution to meet energy needs while addressing environmental concerns.”

Foster Wheeler AG is a global engineering and construction company and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company employs approximately 12,000 talented professionals with specialized expertise dedicated to serving its clients through one of its two primary business groups. The company's Global Engineering and Construction Group designs and constructs leading-edge processing facilities for the upstream oil and gas, LNG and gas-to-liquids, refining, chemicals and petrochemicals, power, mining and metals, environmental, pharmaceuticals, biotechnology and healthcare industries. The company's Global Power Group is a world leader in combustion and steam generation technology that designs, manufactures and erects steam generating and auxiliary equipment for power stations and industrial facilities and also provides a wide range of aftermarket services. The company is based in Zug, Switzerland, and its operational headquarters office is in Geneva, Switzerland. For more information about Foster Wheeler, please visit our Web site at www.fwc.com.

Posted-In: News Contracts

 

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