B&W Awarded $80 Million Contract to Supply Boiler to Philippines Power Plant
March 07 2016 - 7:30AM
Business Wire
Babcock & Wilcox Enterprises, Inc. (NYSE:BW) announced today
its subsidiary, The Babcock & Wilcox Company (B&W), has
been awarded a contract for more than $80 million to design and
manufacture a highly efficient, supercritical boiler and other
components for the Masinloc Thermal Power Plant expansion project
in Zambales Province, Philippines.
B&W will engineer and supply the coal-fired boiler to its
customer, POSCO Engineering and Construction Co. Ltd., the South
Korea-based lead contractor for the power plant owner, Masinloc
Power Partners Co. Ltd.
B&W’s scope includes the supply of one 300 megawatt Spiral
Wound Universal Pressure (SWUPTM) supercritical boiler and
auxiliary equipment.
“Reliable baseload power is a critical component to the success
of a growing economy such as the Philippines,” said B&W Global
Power Division Sr. Vice President Paul Scavuzzo. “We recognize the
importance of this project and are proud to have been chosen to
supply a boiler that will provide clean, efficient and affordable
energy to the residents of Zambales Province.”
B&W intends to perform engineering, procurement and
fabrication activities at its joint venture facility, Thermax
Babcock & Wilcox Energy Solutions Private Limited, in Pune,
India.
Project completion is scheduled for Spring 2019.
About B&W
Headquartered in Charlotte, N.C., Babcock & Wilcox is a
global leader in energy and environmental technologies and services
for the power and industrial markets. B&W companies employ
approximately 6,000 people around the world. Follow us on Twitter
@BabcockWilcox and learn more at www.babcock.com.
Cautionary Statement Regarding Forward Looking
Statements
B&W cautions that this release contains forward-looking
statements, including statements relating to the scope, timing and
value, to the extent value may be viewed as an indicator of future
revenues, of the Masinloc contract. These forward-looking
statements involve a number of risks and uncertainties, including,
among other things, delays or other difficulties executing the
Masinloc contract and adverse modifications to the contract,
including termination. If one or more of these or other risks
materialize, actual results may vary materially from those
expressed. For a more complete discussion of these and other risk
factors, please see B&W's filings with the Securities and
Exchange Commission, including our annual report on Form 10-K and
subsequent reports on Form 10-Q. B&W cautions not to place
undue reliance on these forward-looking statements, which speak
only as of the date this release, and undertakes no obligation to
update or revise any forward-looking statement, except to the
extent required by applicable law.
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version on businesswire.com: http://www.businesswire.com/news/home/20160307005176/en/
Babcock & WilcoxMedia Contact:Ryan Cornell,
330-860-1345Public Relationsrscornell@babcock.comorInvestor
Contact:Leslie Kass, 704-625-4944Vice President, Investor Relations
and Communicationsinvestors@babcock.com
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