Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its Global Power Group has been awarded a contract by eTEC E&C Limited for the design and supply of a circulating fluidized-bed (CFB) steam generator for the Seagull Cogeneration Plant Project. The project, owned by Gungjang Energy Co., Ltd., an affiliate of eTEC, is located in Gunsan City, South Korea.
"Our CFB steam generators give plant owners the flexibility to source fuel to take advantage of fuel pricing and market conditions."
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 fourth-quarter of 2013. Commercial operation of the new steam generator is scheduled for the middle of 2016.
Foster Wheeler will design and supply the 250 MWe (gross megawatt electric) steam generator including a selective catalytic reduction (SCR) system and provide technical advisory services during erection and commissioning. BHI Co., Ltd., a Foster Wheeler licensee, will provide local fabrication and sourcing to meet eTEC's challenging delivery schedule. The CFB steam generator will be designed to burn Indonesian sub-bituminous coal while meeting applicable environmental regulatory requirements.
"We are pleased to have our innovative CFB technology selected again for the Korean market, converting economical solid fuels into valuable steam and power," said Tomas Harju-Jeanty, Chief Executive Officer of Foster Wheeler Power Group Asia. "Our CFB steam generators give plant owners the flexibility to source fuel to take advantage of fuel pricing and market conditions."
"We are confident with Foster Wheeler's ability to provide a world-class CFB steam generator for our Seagull Cogeneration Plant which will demonstrate its advanced CFB technology within the Korean market," said Mr. Woo Sun Lee, Executive Vice President of eTEC E&C. "We look forward to a successfully executed project with Foster Wheeler and BHI."