Foster Wheeler Awarded Contract for Biomass Circulating Fluidized-Bed Steam Generator in South Korea

ZUG, Switzerland–(BUSINESS WIRE)– Foster Wheeler AG (NAS: FWLT) announced today that a subsidiary of its Global Power Group has been awarded a contract by GS E&C for the design and supply of one circulating fluidized-bed (CFB) steam generator for the Dangjin 4 Biomass Power Plant Project for GS EPS, a subsidiary of GS Group. The plant will be located in Dangjin, a city in South Chungcheong Province, South Korea.

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 first quarter 2013 bookings. Commercial operation of the new steam generator is scheduled for third quarter 2015.

Foster Wheeler will design and supply the 105 MWe (gross megawatt electric) CFB steam generator and auxiliary equipment for the boiler island, including a Foster Wheeler baghouse for flue gas cleaning. The steam generator will be designed to burn palm kernel shells with co-firing of coal, and wood pellets as back-up fuel, while meeting applicable environmental regulatory requirements.

“Biomass residue from palm oil industries is an abundant renewable energy fuel in Southeast Asia,” said Gary Nedelka, Chief Executive Officer of Foster Wheeler‘s Global Power Group. “We are pleased to have yet another opportunity to demonstrate Foster Wheeler‘s CFB technology as a solution to meet energy needs while addressing environmental concerns.”

Foster Wheeler AG is a global engineering and construction company and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company employs approximately 13,000 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 Reading, United Kingdom. For more information about Foster Wheeler, please visit our Web site at www.fwc.com.

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