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

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Foster Wheeler AG announced today that a subsidiary of its Global Power Group has been awarded a contract by Hyundai Engineering and Construction for the design and supply of 4 x 250 MWe (net megawatt electric) circulating fluidized-bed (CFB) steam generators for the Mong Duong 1 Thermal Power Plant for Vietnam Electricity (EVN), the owner and developer of the project. The project is financed by Asian Development Bank (ADB) and Korean Exim Bank.

Foster Wheeler has received a full notice to proceed on this contract. The terms of the agreement were not disclosed, and the value of the contract will be included in the company's fourth-quarter 2011 bookings. Commercial operation of the new steam generators is scheduled to begin in second quarter of 2015.

Foster Wheeler will design and supply the 4 x 250 MWe clean burning CFB steam generators and provide site advisory services for the project. The CFB steam generators will be designed to burn Vietnamese anthracite coal while meeting applicable environmental regulatory requirements.

"We at Foster Wheeler are proud to again have been selected to play a role in providing reliable power to meet Vietnam's ever expanding electricity needs," said Gary Nedelka, Chief Executive Officer of Foster Wheeler Global Power Group. "With its high efficiency and competitive pricing, CFB technology has continued to gain a steadily growing share of the mainstream utility market."

Published 03/01/2012

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Foster Wheeler AG is a global engineering and construction contractor 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.

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