ZUG, Switzerland--(BUSINESS WIRE)--Feb. 28, 2012-- Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of its Global Engineering and Construction Group has been awarded a contract by a subsidiary of JSC LUKOIL for the supply of a waste heat boiler for LUKOIL Nizhegorodnefteorgsyntez Refinery, Nizhny Novgorod region, Russia. The value of Foster Wheeler’s contract was not disclosed and was included in the company’s fourth-quarter 2011 bookings.
The waste heat boiler will be installed downstream of a fluid catalytic cracking unit, enabling the production of gasoline that is intended to meet European Union Euro-5 standards. Foster Wheeler has supplied a similar unit to the refinery, which unit has been in operation since 2010 to Lukoil’s full satisfaction. Foster Wheeler’s scope of work is scheduled to be completed by March 2013.
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