Foster Wheeler Subsidiary to Build Chile-based Moly Refinery

Foster Wheeler AG (NASDAQ:FWLT) announced that a contract for “engineering, procurement and related services” for a grassroots, Chile-based molybdenum refinery has been awarded to a subsidiary of its Global Engineering and Construction Group. The contract was awarded by an affiliate of CODELCO, and the new facility will be one of the largest of its kind.

As quoted in the press release:

Foster Wheeler will undertake detailed engineering and provide procurement assistance and field engineering services for the new refinery, which is planned to process and refine 16,000 tonnes per annum (TPA) of molybdenum feedstock, obtained from various CODELCO copper concentrator plants, expected to yield molybdenum as well as copper, rhenium and sulfuric acid as by-products. Molybdenum and rhenium are used in electronics, special steels, petroleum refineries and the aerospace industry. Foster Wheeler’s scope of work is scheduled to be completed during the second quarter of 2015.

Dave Lawson, president and global leader of minerals and metals at Foster Wheeler, commented:

This latest award is a further important step in the extension of our Minerals and Metals track record and in the further development of our already excellent working relationship with CODELCO. This award reflects CODELCO’s continued confidence in the quality of our technical expertise in minerals processing and our project execution.

Click here to read the full Foster Wheeler AG (NASDAQ:FWLT) press release.