B&W SPIG Awarded Contract to Supply Sea Water Cooling Towers for Project in Bahrain
September 19 2019 - 8:54PM
Business Wire
SPIG S.p.A. (SPIG), a subsidiary of Babcock & Wilcox
Enterprises, Inc., has been awarded a contract to supply a sea
water cooling tower to SEPCOIII for the Al Dur Phase II Independent
Water and Power Project in the Kingdom of Bahrain.
Al Dur Phase II is a 1,500-megawatt, combined cycle gas turbine
(CCGT) plant with a desalination component capable of producing up
to 50 million gallons of fresh water each day.
“SPIG is grateful SEPCOIII has chosen us to be a part of this
large, critical infrastructure project for the Kingdom of Bahrain,”
said SPIG Managing Director Alberto Galantini. “SPIG’s sea water
cooling tower technology provides a high degree of corrosion
protection and excellent reliability under demanding conditions. We
look forward to contributing to this exciting project.”
SPIG will supply 40 induced draft counter flow cells constructed
from fiberglass reinforced plastic (FRP) in a back-to-back
configuration capable of handling a total water flow of more than
118,000 cubic meters per hour.
SPIG uses corrosion-free FRP pultruded profiles for its cooling
tower structure and the main PVC internal components. Mechanical
equipment is protected with suitable coatings providing a high
degree of protection for salt water applications.
The plant is scheduled to be fully operational by the second
quarter of 2022. The project developer is a consortium led by ACWA
Power Saudi Arabia.
About B&W Babcock & Wilcox is a global leader in
energy and environmental technologies and services for the power
and industrial markets, and has been transforming our world for 152
years. Follow us on Twitter @BabcockWilcox and learn more at
www.babcock.com.
About SPIG SPIG, S.p.A. is a subsidiary of Babcock &
Wilcox Enterprises, Inc. and a global turnkey cooling systems
supplier. Since 1936, SPIG has provided customers with an extensive
range of high quality cooling towers, air-cooled condensers and
related services.
Forward-Looking Statements B&W Enterprises, Inc. (the
“Company”) cautions that this release contains forward-looking
statements, including, without limitation, statements relating to
the supply of materials and project execution. These
forward-looking statements are based on management’s current
expectations and involve a number of risks and uncertainties,
including, among other things, our ability to continue as a going
concern; our ability to obtain and maintain sufficient financing to
provide liquidity to meet our business objectives, surety bonds,
letters of credit and similar financing; our ability to satisfy the
liquidity and other requirements under our revolving credit
facility as recently amended; our ability to refinance said
facility in a timely manner, if at all; the highly competitive
nature of our businesses; general economic and business conditions,
including changes in interest rates and currency exchange rates;
general developments in the industries in which the Company is
involved; cancellations of and adjustments to backlog; our ability
to perform contracts on time and on budget, in accordance with the
schedules and terms established by the applicable contracts with
customers; failure by third-party subcontractors, joint venture
partners or suppliers to perform their obligations on time and as
specified; our ability to realize anticipated savings and
operational benefits from our restructuring plans, and other
cost-savings initiatives; our ability to successfully address
productivity and schedule issues in our Vølund and Other Renewable
segment, including the ability to complete our European EPC
projects within the expected time frame and the estimated costs;
our ability to successfully partner with third parties to win and
execute renewable contracts; changes in our effective tax rate and
tax positions; our ability to maintain operational support for our
information systems against service outages and data corruption, as
well as protection against cyber-based network security breaches
and theft of data; our ability to protect our intellectual property
and renew licenses to use intellectual property of third parties;
our use of the percentage-of-completion method of accounting; our
ability to successfully manage research and development projects
and costs, including our efforts to successfully develop and
commercialize new technologies and products; the operating risks
normally incident to our lines of business, including professional
liability, product liability, warranty and other claims against us;
changes in, or our failure or inability to comply with, laws and
government regulations; actual or anticipated changes in
governmental regulation, including trade and tariff policies;
difficulties the Company may encounter in obtaining regulatory or
other necessary permits or approvals; changes in, and liabilities
relating to, existing or future environmental regulatory matters;
changes in actuarial assumptions and market fluctuations that
affect our net pension liabilities and income; potential violations
of the Foreign Corrupt Practices Act; our ability to successfully
compete with current and future competitors; the loss of key
personnel and the continued availability of qualified personnel;
our ability to negotiate and maintain good relationships with labor
unions; changes in pension and medical expenses associated with our
retirement benefit programs; social, political, competitive and
economic situations in foreign countries where the Company does
business or seek new business; the possibilities of war, other
armed conflicts or terrorist attacks; the willingness of customers
and suppliers to continue to do business with us on reasonable
terms and conditions; and our ability to successfully consummate
strategic alternatives for non-core assets, if the Company
determines to pursue them. If one or more of these risks or other
risks materialize, actual results may vary materially from those
expressed. For a more complete discussion of these and other risk
factors, see the Company’s filings with the Securities and Exchange
Commission, including our most recent annual report on Form 10-K.
The Company cautions not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
release, and undertakes no obligation to update or revise any
forward-looking statement, except to the extent required by
applicable law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190919005951/en/
Investors: Megan Wilson Vice President, Corporate
Development & Investor Relations Babcock & Wilcox
704.625.4944 | investors@babcock.com
Media: Ryan Cornell Public Relations Babcock & Wilcox
330.860.1345 | rscornell@babcock.com
Babcock and Wilcox Enter... (NYSE:BW)
Historical Stock Chart
From Mar 2024 to Apr 2024
Babcock and Wilcox Enter... (NYSE:BW)
Historical Stock Chart
From Apr 2023 to Apr 2024