Foster Wheeler is Awarded a $275 Million Delayed Coker Contract by Valero Refining

abarrelfullabarrelfull wrote on 07 Dec 2012 20:02

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Feb 6, 2002

Foster Wheeler Ltd.'s (NYSE:FWC) subsidiary, Foster Wheeler USA Corporation, has been awarded an engineering, procurement and construction (EPC) contract by Valero Refining Company valued at $275 million for a delayed coker and associated facilities.

The coker will be built to modify Valero's existing refinery located in Texas City, TX, and will enable the facility to process heavy, sour Maya crude.

The company's scope of work will consist of the design and construction of the 45,000 BPSD delayed coker, a new sour water stripper, miscellaneous offsites and utilities to support the new units, and associated process unit revamps. The project will utilize Foster Wheeler's proprietary SYDEC(SM) delayed coking technology, and process a combined feedstock of Maya vacuum tower bottoms and pitch from Middle Eastern Crude. The project is expected to lower Texas City Refinery's feedstock costs over $1 per barrel and should raise the return on capital employed of the refinery by three percent.

Engineering on the delayed coker project has already commenced and the project is scheduled for mechanical completion in the fourth quarter of 2003.

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