Foster Wheeler Awarded Contract for Two Circulating Fluidized-Bed Steam Generators in Vietnam

13/12/2009


ZUG, Switzerland--(BUSINESS WIRE)--Dec. 14, 2009-- Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of its Global Power Group has been awarded a contract by Wuhan Kaidi Electric Power Co., Ltd. for the design and supply of two circulating fluidized-bed (CFB) steam generators for Vietnam National Coal-Mineral Industries Group’s (Vinacomin) Mao Khe Thermal Power Plant Project located in northern Quang Ninh Province, Vietnam.

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 fourth quarter 2009 bookings. Commercial operation of the new steam generators is scheduled for the fourth quarter of 2012.

Foster Wheeler will design and supply the two 220 MWe (gross megawatt electric) CFB steam generators and auxiliary equipment and provide site advisory services for the project. The CFB steam generators will be designed to burn anthracite coal cleanly and efficiently while meeting all environmental requirements.

-We are delighted to have an opportunity to continue our long-standing relationship with Vinacomin,” said Gary Nedelka, president and chief executive officer of Foster Wheeler Global Power Group. -Our extensive experience in firing this hard-to-burn fuel in an environmentally friendly manner, coupled with the efficiency of the Foster Wheeler CFB technology, makes this the perfect choice for the Mao Khe project.”

-Foster Wheeler has demonstrated its state-of-the-art CFB boiler technology as a world leader, proven in large-scale applications, while providing fuel flexibility and environmental compliance. Our Cam Pha project with Foster Wheeler was a great cooperation and we are pleased to have them selected for the Mao Khe project as well,” said Mr. Tran Xuan HoA, president and chief operating officer of Vinacomin.

-The Mao Khe project is the first Kaidi-Foster Wheeler cooperation for an overseas EPC project,” said Mr. Chen YiLong, chairman of Wuhan Kaidi Electric Power Co., Ltd. -We have full confidence with Foster Wheeler’s ability to deliver the best quality CFB boilers.”

Foster Wheeler AG is a global engineering and construction contractor and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company employs over 14,000 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, 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 are in Clinton, New Jersey, USA. For more information about Foster Wheeler, please visit our Web site at http://www.fwc.com.

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Source: Foster Wheeler AG

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