Foster Awarded Contract for Two Steam Generators

Foster Wheeler AG announced that a subsidiary of its Global Power Group has been awarded a contract by Japan's Marubeni Corporation for the design and supply of two pulverized coal steam generators for the Nghi Son 1 Project for Vietnam Electricity (EVN). The project is located in the central province of Thanh Hoa in Vietnam.

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 fourth quarter 2010 bookings. Commercial operation of the new steam generators is scheduled to begin in the fourth quarter of 2013 and second quarter of 2014 respectively.

Foster Wheeler will design and supply the two 300 MWe pulverized coal steam generators and auxiliary equipment for the project. Once fully operational, Nghi Son 1 is estimated to generate an average of 3.6 TWh a year (total annual power production) and would contribute to the economic development in Thanh Hoa Province and the northern central region of Vietnam.

"We are pleased to have this opportunity to provide our state-of-the-art steam generators to Marubeni in response to the increasing power demands of Vietnam," said Gary Nedelka, chief executive officer of Foster Wheeler Global Power Group. "The award of this important project in Vietnam's Master Plan signifies Marubeni's and EVN's confidence in Foster Wheeler."

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