Foster Wheeler Contracted to Engineer, Build $200 Million Lube Oil Complex in Egypt for Alexandria Mineral Oils.CLINTON, N.J.--(BUSINESS WIRE)--July 9, 1998--Foster Wheeler Corp. announced that Paris-based Foster Wheeler France, S.A. has been awarded a lump-sum contract by Alexandria Mineral Oils Co. (AMOC AMOC Alternative Method of Compliance AMOC Aston Martin Owners Club AMOC Alternate Means of Compliance AMOC Alternative Means of Compliance AMOC Air Marine Operations Center AMOC A Murder Of Crows (Lakeland, FL band) ) for a new lube oil plant to be built in Alexandria, Egypt. AMOC is a new Egyptian private joint-venture company led by Alexandria Petroleum Co. (APC (1) (American Power Conversion Corporation, West Kingston, RI, www.apcc.com) The leading manufacturer of UPS systems and surge suppressors, founded in 1981 by Rodger Dowdell, Neil Rasmussen and Emanual Landsman, three electronic power engineers who had worked at MIT. ). The new lube oil facility, representing an investment of more than $200 million, will be built adjacent to APC's existing industrial complex. Under the contract, Foster Wheeler France will be responsible for the detail engineering, procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. of equipment and material, construction, precommissioning, commissioning, and start-up of the new plant. The project is designed to produce 110,000 metric tons per year of specialty and neutral lube oils and 27,000 metric tons per year of food-grade hard waxes. The front-end design was prepared by Foster Wheeler France based on Bechtel/Texaco license for MP Refining and MEK Noun 1. MEK - a terrorist organization formed in the 1960s by children of Iranian merchants; sought to counter the Shah of Iran's pro-western policies of modernization and opposition to communism; following a philosophy that mixes Marxism and Islam it now attacks the dewaxing, Exxon license for wax hydrofining, and IFP (1) (Intelligent Forms Processing) Using advanced techniques to scan documents and determine their data content. See ICR. (2) (Integer Factorization Problem) The difficulty of finding prime numbers in an encryption key. license for lube oil hydrofinishing. Work on the project, which is expected to be completed in the fourth quarter of 2000, is presently underway at Foster Wheeler's offices in Paris. In announcing the contract, Giuseppe Bonadies, president and chief executive officer of Foster Wheeler France, said: "Foster Wheeler France is honored to have been awarded this contract by an important client like AMOC. This project, the largest of the contracts awarded to Foster Wheeler in Egypt over the past few years, represents one of the largest private investment projects in the Egyptian petroleum industry." Dr. Sayed A. El Kharachi, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AMOC said: "The lube oil complex is one of the new initiatives of the Egyptian private sector in which Alexandria Petroleum Co. participates in the equity. Our project is one of the biggest of the many investments in the refinery and petrochemical petrochemical, any one of a large group of chemicals derived from a component of petroleum or natural gas. The cracking processes for manufacturing gasoline produce vast quantities of gaseous hydrocarbons. industry in the Alexandria area, which represent a total in excess of $4 billion. "Such investments are implemented under the approval of President Hosni Mubarek and the leadership of the Minister of Petroleum, Dr. Hamdy El Bamby, and the chairman of Egyptian General Petroleum Corp., Eng. Abd El Khaled Ayyad. Our project is in line with the strategy of Dr. Hamdy El Bamby, which is to increase the rate of industrial growth and self-sufficiency of Egypt, to achieve technology transfer and to provide employment opportunities for the area's youth." AMOC is a new private joint-venture Egyptian company whose principal investors are Alexandria Petroleum Co., National Bank of Egypt This article is about a commercial bank. For Egypt's central bank, see Central Bank of Egypt. National Bank of Egypt (NBE) is the oldest and largest bank in Egypt, and has 378 branches within the country. , Misr Bank, Misr Insurance Co., the Social Insurance Ministry, El Shark Insurance Co., Petroleum Corporation Co. and Misr Petroleum Co. Foster Wheeler France, based in Paris, is part of the Engineering and Construction Group of Foster Wheeler Corp. Foster Wheeler Corp is a global company offering a broad range of design, engineering, construction, manufacturing, project development and management, research, plant operations and environmental services The various combinations of scientific, technical, and advisory activities (including modification processes, i.e., the influence of manmade and natural factors) required to acquire, produce, and supply information on the past, present, and future states of space, atmospheric, . The corporation's headquarters are at Clinton, N.J. For more information about Foster Wheeler, visit our World Wide Web site at www.fwc.com
CONTACT: Foster Wheeler Corp., Clinton
Harry Levy, 908/730-4448
Richard C. Kroll, 908/730-4444
|
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion