Foster Wheeler Wins Contract to Build Polypropylene Plant in Czech Republic.
CLINTON, N.J.--(BUSINESS WIRE)--Feb. 23, 2000
Foster Wheeler Corporation announced today that its subsidiary, Foster Wheeler Italiana, S.p.A., was awarded a contract for a new polypropylene plant to be built in the Czech Republic by Chemopetrol a.s Litvinov, a Czech joint-stock company member of the Unipetrol Group.
The contract, valued at approximately $48 million, calls for Foster Wheeler Italiana to provide engineering, to supply equipment and materials, and to construct the plant to be built in Litvinov. The new production unit will produce polypropylene under BP/Amoco process license and will have a capacity of 250,000 tons per year. It is expected to be in commercial operation in 2002.
Florentino G. Valencia, President and CEO of Foster Wheeler Italiana, said the contract was a significant step in the company's plans to grow business in this product line and to work toward solidifying a long-term presence in the Czech Republic.
The contract for the project will be financed by a Buyer Export Credit guaranteed by SACE, the Italian state insurance agency, and by commercial loans.
Note to Editors:
1. Foster Wheeler Italiana, based in Milan, is part of the
Engineering and Construction Group of Foster Wheeler Corporation.
2. Foster Wheeler Corporation is a global company offering, through
its subsidiaries, 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. For more
information about Foster Wheeler, visit our World-Wide Web site
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|Date:||Feb 23, 2000|
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