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Foster Wheeler Receives Notice to Proceed for Major Power Plant Project in China.

CLINTON, N.J.--(BUSINESS WIRE)--July 8, 1997--Foster Wheeler Corp. announced that its subsidiary, Foster Wheeler Energy Corp. (FWEC), has received a Notice to Proceed on a $174.4 million contract with Hebei Electric Power Corp. (HEPC) for two 660 MW anthracite-fired boilers and auxiliaries for a power plant in China. This contract was awarded to FWEC during the fourth quarter of 1996.

The owner of the plant, Hebei Hanfeng Power Generating Co. Ltd, is a joint venture company that included HEPC, the operating power company; Hebei Construction and Investment Corp.; North China Power Co.; and Siemens Power Development Hanfeng GmbH, a power plant investment subsidiary of Siemens AG.

Foster Wheeler Energy Corp. is a consortium partner with the Siemens Power Generation Group for the supply of the main power block equipment, including turbine generator, boiler, instrumentation and controls, ash handling and other related components for each of the two units.

FWEC will supply the arch-fired boilers, the firing system including bunkers, coal feeders and pulverizers, coal burners with oil igniters, boiler and mill bay structures and enclosures, air/flue gas duct system including fans/air heaters, and electrostatic precipitators.

Because the plant is to burn a pulverized blend of very-low-volatile anthracite with low-volatile "lean" coal, Foster Wheeler's recognized leadership in the design and fabrication of boilers capable of burning anthracite efficiently was a critical factor in its selection for this project.

The plant will be located in Yijing, a town near Handan City in Hebei Province, about 420 km southwest of Beijing. The power generated at the facility will serve the growing industrial cities of Hebei Province.

Foster Wheeler Energy Corp. -- a major United States subsidiary of Foster Wheeler Energy International Inc. -- designs and fabricates steam-generating equipment for electric utilities, industrial users and public authorities.

Foster Wheeler Energy International Inc. designs and fabricates steam-generating equipment for electric utilities, industrial users and public power authorities globally.

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 corporation's headquarters are at Clinton, N.J.

CONTACT: Foster Wheeler Corp., Clinton

Harry Levy, 908/730-4448

Richard C. Kroll, 908/730-4444
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Publication:Business Wire
Date:Jul 8, 1997
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