Hyundai Engineering and Construction awarded a contract to Global Power Group, a subsidiary of Foster Wheeler AG (Nasdaq: FWLT), to design and supply four, 250 MWe circulating fluidized-bed (CFB) steam generators for the coal-fired Mong Duong 1 Thermal Power Plant in Vietnam. Financial terms of the deal were not disclosed.
Foster Wheeler has received full notice to proceed on the contract. The company will design and supply the four, 250 MW CFB steam generators and provide site advisory services for the project. The CFB steam generators will be designed to burn Vietnamese anthracite coal.
The project is financed by Asian Development Bank and Korean Exim Bank and is owned and developed by Vietnam Electricity. Commercial operation of the steam generators is scheduled to begin in 2Q 2015.
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