Foster Wheeler India, the subsidiary of Foster Wheeler AG bagged contract for constructing LNG receiving terminal in India. Foster Wheeler is the pioneer company in the EPC (Engineering, Procurement & Construction) markets. Global engineering company has been awarded a contract to build LNG receiving terminal in Ennore near to Tamil Nadu state in India. Foster Wheeler was awarded contract by India’s largest national oil company named Indian Oil Corporation Limited (IOCL). According to news sources, there was a messy competition between Indian & International firms, & finally FW Indian won the contract. As such the contractual value of whole project was not disclosed.
As per news reports, the terminal will be designed to process nearly 5 million tons of liquid natural gas per year. Company officials confirmed the facilities construction & other jobs will be complete in 2015 or 2016. Under this agreement, company will work on basic design, front-end engineering design, and the preparation of capital and operating cost estimates for the new LNG import, storage and regasification terminal, which will be actually designed to process five million tonnes per annum of LNG.
Foster Wheeler’s will also support IOCL to set up the jetty location, utilities, and regasified LNG send-out facilities. Apart from this, Foster Wheeler Engineering team is also going to help in getting marine creation. Company will include this booking in final quarter values.