Foster Wheeler Licensee To Supply Power Equipment to S. Arabia

Foster Wheeler AG (Nasdaq:FWLT) announced today that BHI Co., Ltd., a licensee of its Global Power Group, has been awarded a contract by Samsung C&T for the design and supply of six heat recovery steam generators (HRSGs) for the 2,100 megawatt Rabigh II combined-cycle power plant in Saudi Arabia.

BHI has received a full notice to proceed on this contract. The terms of the agreement were not disclosed, and the royalty value received for the contract was included in Foster Wheeler’s bookings for the first quarter of 2014. Commercial operation of the units is scheduled to begin in 2017.

BHI offers HRSGs, pulverized coal (PC) boilers, circulating fluidized bed (CFB) boilers and oil and gas boilers all utilizing Foster Wheeler’s proven technology. BHI will design and supply the six HRSGs which will be coupled to six SGT6-5000F Siemens (SIEMENS.NS) gas turbines firing natural gas and oil.

“BHI is very pleased to have received this major award,” said Woo Jong-Ihn, President of BHI Co., Ltd. “We have executed a number of key projects in the Middle East and this award reinforces our position as a leading supplier in the region. Based on the combination of Foster Wheeler technology and BHI design and production capabilities, BHI intends to continue its marketing activities in the combined cycle power plant market throughout the world.”

“Foster Wheeler HRSG designs are tailored to meet the performance, reliability and cost goals of our customers,” said David J. Parham, Executive Vice President, Foster Wheeler Global Power Group.

“Together the list of Foster Wheeler/BHI reference units now includes over 70 HRSGs for a total of over 7 gigawatts supplied globally, bringing the total Foster Wheeler experience on HRSGs to 425 units and over 28 gigawatts.”

BHI Co., Ltd. is engaged in the engineering, production, and sale of heat exchangers and boilers in South Korea and internationally. The company was formerly known as Bumwoo Eng Co., Ltd. and changed its name to BHI Co., Ltd. in March 2009. BHI Co., Ltd. was incorporated in 1998 and is based in Haman-Gun, South Korea.