Zug, Switzerland, September 16, 2010 – A unit of Foster Wheeler AG’s Global Power Group struck a 20-year agreement with The Saraswati Industrial Syndicate Ltd., to provide an advanced technology license for wall-fired subcritical and supercritical pulverized-coal steam generators to be sold in India.
The terms of the agreement were not disclosed. The contract value will be included in the company’s third quarter 2010 bookings and future royalty payments will be recorded over the life of the agreement.
Under a separate existing agreement, Foster Wheeler and Saraswati have successfully sold and executed 34 circulating fluidized-bed steam generators in India totaling about 1.5 GWe since 1997.
Foster Wheeler AG is a global engineering and construction contractor and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company employs about 13,000 professionals with specialized expertise dedicated to serving its clients through one of its two primary business groups.