ZUG, Switzerland--(BUSINESS WIRE)--Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its Global Engineering and Construction Group has been awarded a contract for engineering, procurement and related services for a grassroots molybdenum refinery in Chile. The contract was awarded by MOLYB Ltda., an affiliate company of CODELCO, the Chilean Copper Corporation, the world's largest copper producing company and also a leading molybdenum concentrate producer. The new facility, planned to be one of the largest of its kind, will be located near Mejillones in northern Chile.
The terms of the award were not disclosed and the contract value was included in the company's third-quarter 2013 bookings.
Foster Wheeler will undertake detailed engineering and provide procurement assistance and field engineering services for the new refinery, which is planned to process and refine 16,000 tonnes per annum (TPA) of molybdenum feedstock, obtained from various CODELCO copper concentrator plants, expected to yield molybdenum as well as copper, rhenium and sulfuric acid as by-products. Molybdenum and rhenium are used in electronics, special steels, petroleum refineries and the aerospace industry. Foster Wheeler’s scope of work is scheduled to be completed during the second quarter of 2015.
“This latest award is a further important step in the extension of our Minerals and Metals track record and in the further development of our already excellent working relationship with CODELCO,” said Dave Lawson, President and Global Leader of Minerals and Metals, Foster Wheeler AG. “This award reflects CODELCO's continued confidence in the quality of our technical expertise in minerals processing and our project execution.”
Foster Wheeler AG is a global engineering and construction company and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company employs approximately 13,000 talented professionals with specialized expertise dedicated to serving its clients through one of its two primary business groups. The company’s Global Engineering and Construction Group designs and constructs leading-edge processing facilities for the upstream oil and gas, LNG and gas-to-liquids, refining, chemicals and petrochemicals, power, minerals and metals, environmental, pharmaceuticals, biotechnology and healthcare industries. The company’s Global Power Group is a world leader in combustion and steam generation technology that designs, manufactures and erects steam generating and auxiliary equipment for power stations and industrial facilities and also provides a wide range of aftermarket services. The company is based in Zug, Switzerland, and its operational headquarters office is in Reading, United Kingdom. For more information about Foster Wheeler, please visit our Web site at www.fwc.com.
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