Foster Wheeler in Indian Market - Analyst Blog
October 17 2011 - 4:45AM
Zacks
Global Power Group of
Foster Wheeler AG (FWLT) received a contract to
design and supply four circulating fluidized-bed (CFB) steam
generators for Essar Power Salaya Limited in India. The contract
has been awarded by Essar Projects Limited, a United Arab Emirates
(UAE) company. The project is owned and developed by Essar Power
Salaya Limited.
Moreover, full notice to carry on
with the contract has been received by Foster Wheeler. However, the
term of the deal were not disclosed. Second-quarter 2011 bookings
of the company include this contract value.
Together with the provision of four
150 MWe (gross megawatt electric) CFB steam generators, Foster
Wheeler will also provide site advisory and commissioning services
for the project. The technology used in the CFB steam generators
will meet the environmental regulatory requirements for burning the
mixture of pet coke and coal.
Indian power market has a high
growth potential and provides good opportunity for Foster Wheeler’s
renowned CFB steam generators. These generators can burn a variety
of fuels competently and dependably.
Foster Wheeler AG is based in Zug
Switzerland, but its operational headquarters are in Clinton NJ
USA. The majority of Foster’s revenues and new businesses originate
from outside the United States. The company serves the
following industries: Oil and Gas; Oil Refining; Chemical &
Petrochemical; Pharmaceutical; Environmental; Power Generation; and
Power Plant Operation and Maintenance. The major competitors of
Foster Wheeler are Fluor Corporation (FLR) and
Jacobs Engineering Group Inc. (JEC).
We continue to maintain a Neutral
recommendation on Foster Wheeler, which corresponds to a Zacks #3
Rank (Hold Rating) over the next one-to-three months.
FLUOR CORP-NEW (FLR): Free Stock Analysis Report
FOSTER WHELR AG (FWLT): Free Stock Analysis Report
JACOBS ENGIN GR (JEC): Free Stock Analysis Report
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