This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Foster Wheeler Wins Consultancy Services Contract For Pipeline And Power Plant Projects In Peru

Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its Global Engineering and Construction Group has been awarded a contract by Wood Mackenzie Limited to provide consultancy services for two projects in Peru, namely, the Energy Security and South Pipeline Project and the Energy Node in South Peru Project.

The Foster Wheeler contract value was not disclosed and was included in the company’s second-quarter 2013 bookings.

Foster Wheeler will develop the design and cost estimates for both planned investments. Foster Wheeler’s scope of work is expected to be completed in the fourth-quarter of 2013.

The principal stakeholders involved in these two projects are ProInversion, the Peruvian Government Agency responsible for promoting private investments and for the awarding process of these two projects – and the Ministry of Energy and Mines, as the governing body of the energy and mines sector. Wood Mackenzie has been contracted by ProInversion to promote private investment in infrastructure to strengthen the energy security of the country, to decentralize the power generation from the central area of the country and to promote the development of a petrochemical complex in the south of Peru as part of the Peruvian Government’s diversification initiative.

The Energy Security and South Pipeline Project will involve the development of pipelines to support the existing natural gas and natural gas liquids transportation system from Las Malvinas to the Chiquintirca compression station, and the development of the southern pipeline from the existing natural gas transportation system to the south coast.

The Energy Node in South Peru Project will involve the development of thermoelectric power generation plants with a capacity up to 2,000 megawatts to promote the development of an energy center and petrochemical complex in the south of the country.

“Both projects leverage our technical expertise in geographical information systems, pipelines and power plant design,” said Umberto della Sala, President and Chief Operating Officer of Foster Wheeler AG. “We will evaluate options for the proposed gas transportation infrastructure and routing, as well as power plant configuration and location, to accommodate the challenging Peruvian geography and to optimize the implementation schedule for the projects.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs