Foster Wheeler Ltd. has announced that its subsidiary Foster Wheeler Energy Limited has been awarded a program management services contract by Saudi Basic Industries Corporation (SABIC) for a new grassroots petrochemicals facility to be built at Yanbu Industrial City, Kingdom of Saudi Arabia. The terms of the award were not disclosed.
Foster Wheeler will perform program management contractor services for the Yanbu Petrochemical Complex, including preparation of front-end engineering design (FEED) and preparation and issuance of invitations to bid for each of the process units, including analysis and award recommendations for engineering, procurement and construction (EPC) contractors.
Foster Wheeler will also manage all EPC contractors and provide the overall management, coordination and control of all phases of the program. Mechanical completion is expected at the end of 2007.
The proposed grassroots complex, which will have an annual production capacity of 3.6 million metric tonnes, is one of the largest petrochemical complexes to be built in the Middle East and will include a 1.3 metric million tonnes per year ethylene plant. The majority of the products will be exported to SABIC's growing list of international clients.
Steve Davies, chairman and chief executive officer, Foster Wheeler Energy Limited, said, "This is a significant win for Foster Wheeler and reflects our competitive market position, the quality of our engineering and our proven capacity and ability to manage complex, world-scale projects from a single execution center." (menareport.com)
© 2004 Mena Report (www.menareport.com)
