Foster Wheeler Awarded Front-End Engineering Design And Management Contracts For New Petrochemical Complex In Qatar
Hamilton, OH - Foster Wheeler Ltd. announced recently that two subsidiaries in its Global Engineering and Construction Group have been awarded contracts by Qatar Intermediate Industries Holding Co. Ltd. (Qatar Holding), a fully owned subsidiary of Qatar Petroleum, to execute the front-end engineering design (FEED) and to provide project management and construction management (PMCM) services for a new grassroots petrochemical complex to be located at Mesaieed in Qatar. Qatar Holding is in the process of establishing a joint venture company for this project with Honam Petrochemical Corporation of Korea. In addition to the usual FEED scope, Foster Wheeler's work also includes the procurement of long-lead items.
The Foster Wheeler FEED contract value, which was not disclosed, will be included in the company's third-quarter 2007 bookings. A portion of the PMCM contract relating to services to be provided up to award of engineering, procurement and construction contracts, will be booked in the fourth quarter of 2007 with the remainder being booked at a later date.
The new complex will include world-scale olefins and aromatics units, which will supply ethylene, propylene and benzene to the downstream polypropylene, ethylbenzene, styrene monomer and polystyrene facilities. The complex, which will also include ethylene-to-propylene conversion units, is scheduled for completion in 2011.
"Foster Wheeler has established itself as a key global contractor in the chemical and petrochemical sector," said Steve Davies, chairman and chief executive officer, Foster Wheeler Energy Limited. "We will leverage our extensive experience, in-depth technical expertise and our proven ability to execute large, complex projects to help our client meet its objectives in realizing this major grassroots investment."
Mohammed K. Turki Al-Sobai, managing director and chief executive officer, Qatar Intermediate Industries Holding Co. Ltd., expressed his pleasure for selecting Foster Wheeler to conduct the FEED and PMCM for this very important project for Qatar Holding.
SOURCE: Foster Wheeler Ltd.