Foster Wheeler Wins Indonesian Deal - Analyst Blog
March 28 2012 - 12:44PM
Zacks
Foster Wheeler AG (FWLT) received a contract to
deliver project management consultancy services for the Residue
Fluid Catalytic Cracker (RFCC) Project at the Cilacap Refinery, on
the island of Java, Indonesia. The contract has been awarded by the
national oil company of the Republic of Indonesia, PT Pertamina
(Persero).
As a consultant project manager, Foster Wheeler will look into
engineering, procurement and construction of the refinery upgrade
at Cilacap on behalf of the Indonesian oil company. The contract
value is undisclosed but has been included in the first quarter
bookings of the company.
The project involves construction of the 62,000 barrels per day
(BPD) RCC Complex. An RFCC, a new LPG MeroxTM unit (Merox is a
trademark of UOP LLC), and propylene recovery and gasoline
hydrotreating units will be included in this complex. The fuel
generation capacity of the refinery will be increased with the
addition of the RFCC unit.
The fuel generated is intended to meet European Union EURO IV
quality specifications. The upgrade would increase liquid petroleum
gases production by 350,000 tons per annum (TPA) and produce more
than 140,000 TPA of propylene. The upgrade is expected to be
completed in 2014.
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).
Currently, the stock retains a Neutral rating on Foster Wheeler,
with a Zacks #3 Rank (short-term Hold recommendation).
FLUOR CORP-NEW (FLR): Free Stock Analysis Report
FOSTER WHELR AG (FWLT): Free Stock Analysis Report
JACOBS ENGIN GR (JEC): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
Jacobs Engineering (NYSE:JEC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Jacobs Engineering (NYSE:JEC)
Historical Stock Chart
From Jul 2023 to Jul 2024