Foster Wheeler Awarded 2 Contracts For Plant in S. Arabia
Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its Global Power Group has been awarded two contracts for the design and supply of five steam condensers and thirty feed-water heaters for Saline Water Conversion Corporation’s (SWCC) Yanbu Power and Desalination Plant, Phase 3, located in Saudi Arabia. The contracts were signed with a consortium led by Al-Toukhi Company for Industry, Trade and Construction (AT) for the engineering, procurement and construction (EPC) of the plant.
Foster Wheeler will design and supply condensers and feed-water heaters for the five super critical boilers at the plant. Each unit requires a condenser as well as three high-pressure and three low-pressure feed-water heaters.
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 bookings for the first-quarter of 2014. Delivery of the equipment is scheduled for the second quarter of 2015 through the second quarter of 2016.
“Foster Wheeler is honored to have this opportunity to demonstrate our dedication and commitment to the Kingdom of Saudi Arabia by playing a part in this prestigious project,” said Gary Nedelka, Chief Executive Officer of Foster Wheeler Global Power Group. “Our condensers and feed-water heaters, supplied to utilities, industrial and marine customers, utilize a proven design and the highest quality fabrication to provide superior efficiency and availability, with any turbine.”