Foster Wheeler Bags Another Sasol Contract

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Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--Major synfuel and chemical company Sasol Limited's (NYSE:SSL) (Johannesburg, South Africa) subsidiary Sasol New Energy Holdings has awarded an engineering, procurement, construction and management (EPCM) services contract to Foster Wheeler AG (NASDAQ:FWLT) (Geneva, Switzerland) for the outside battery limit (OBL) portion of a new gas-fired power plant in Sasolburg, South Africa.

The power project is expected to raise Sasol's electricity self-sufficiency to 840 megawatts (MW), which is equivalent to 60% of its overall power draw. The project forms part of a broader plan in the Sasol group up to reduce its CO2 emissions and bolster power self-sufficiency, in light of South Africa's tightening electricity supply/demand balance.

The scope of the contract will include earthworks for the entire outside battery limit, an access road, utility connections, 15/88-kilovolt (kV) step-up transformers, and an 88-kV substation with associated electrical infrastructure and network systems. Foster Wheeler's contracted work is scheduled for completion in the third quarter of 2012.

The contract for Foster Wheeler follows the completion of a feasibility study and another recent EPCM contract from Sasol for a utilities expansion.

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