Foster Wheeler wins further CFB boiler contract from SINOPEC

HAMILTON, BERMUDA, October 24 — Two Chinese subsidiaries of Foster Wheeler’s Global Power Group have been awarded contracts by a unit of the China Petrochemical Corporation (SINOPEC) to design and supply three 100MWcirculating fluidized-bed (CFB) boilers for SINOPEC Tianjin Company’s ethylene complex in Tianjin City.

The petroleum coke-fired boilers will be designed by Foster Wheeler International Engineering & Consulting (Shanghai) Company Limited and manufactured in part by Foster Wheeler Power Machinery Company Limited at its facility in Xinhui, China.

Commissioning of the Tianjin boilers is anticipated in 2008. The boilers will be similar in design to Foster Wheeler boilers currently in commercial operation at SINOPEC’s Maoming refinery in China. The value of the contracts, which will be included in the company’s third-quarter 2006 bookings, was not disclosed.

“In the last ten years, SINOPEC has purchased a total of nineteen CFB boilers from Foster Wheeler,” said Gary Nedelka, chief executive officer of Foster Wheeler North America and Power Group Asia. “This latest order confirms SINOPEC’s continued satisfaction with our highly reliable CFB boilers and further strengthens our long-standing relationship with our client. Our highest priority remains providing efficient, environmentally sound power generation technologies to countries around the world.”

“SINOPEC Tianjin Company considers Foster Wheeler a global leader in circulating fluidized-bed (CFB) technology. We believe that Foster Wheeler’s experience and good cooperation with SINOPEC will deliver a successful project,” commented Xu Hongxing, general manager, SINOPEC Tianjin Company.

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