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Foster Wheeler AG (NASDAQ:FWLT) Earns Services Agreement

Written By Jason Stutman

Posted September 19, 2013

Foster Wheeler AG (NASDAQ:FWLT) Earns Services Agreement

A subsidiary of Foster Wheeler AG’s (NASDAQ:FWLT) Global Engineering and Construction Group has signed a a technical services agreement with OJSC Khabarovsk Oil Processing Refinery to provide construction management services for a refinery project in Russia’s Far East.

Foster will assist OJSC in constructing a hydroprocessing line to include a hydocracker, sulfur recovery unit, and waste water unit. The hydrogen plant will allow OJSC to produce lighter and higher-value products through Foster’s proprietary steam methane reforming technology.

The agreement marks a continued relationship between Foster and OJSC, who have been collaborating at this refinery for ten years now.

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