Foster Wheeler Receives EPCm Award for El Palito Refinery Expansion in Venezuela

Foster Wheeler AG

announced today that a subsidiary of its Global Engineering and Construction Group has been awarded a contract by PDVSA Petróleo S.A. for the engineering, procurement services and construction management (EPCm) for the El Palito Refinery Expansion Project in Venezuela. Foster Wheeler will execute the project in consortium with Toyo Engineering Corporation from Japan and Y & V Ingeniería y Construcción from Venezuela. Foster Wheeler and its consortium partners have previously completed the front-end engineering design for the project. The value of the EPCm award was not disclosed and will be included in Foster Wheeler's third-quarter 2012 bookings.