Foster Wheeler AG, has publicised winning a contract from Huntsman BVBA in which it will undertake the front-end engineering design (FEED) necessary for the expansion of its facility in Shangai.
The Swiss firm’s subsidiary, its Global Engineering and Construction Group, will be using the contract to improve Huntsman’s Isocyanates Facility which is located at Caojing, in Shangai. Isocyanates are needed in the production of polyurethanes, which find wide applications throughout the plastics industry.
Umberto della Sala, interim CEO for Foster Wheeler explained the reasons behind this contract win. He said, “Key to Huntsman awarding the project to us was our depth of experience in the technologies involved, the quality of our project team and proven execution capability of our Chinese operation in Shanghai. We worked with Huntsman on the original development of this facility and will bring this wealth of experience to the planned expansion.$quot;
The contract value remains undisclosed but will be included in the company’s first quarter 2011 bookings. According to contract terms, Foster Wheeler will be called on to provide FEED, technology licensor management and development of the project schedule in addition to cost estimates.
Foster Wheeler’s initial involvement is expected to be complete in the third quarter of this year, while the overall project is scheduled to complete by the fourth quarter of 2013.