Foster Wheeler In Project Management Pact With Osos Petrochemicals

Company will help with new complex in Saudi Arabia for polybutylene terephthalate.

Foster Wheeler Ltd said Thursday that its Foster Wheeler Energy subsidiary was awarded a front-end engineering design and project management consultancy services contract with Osos Petrochemicals Co. for a new petrochemicals complex in Yanbu, Saudi Arabia.

The new complex will produce 60,000 tons annually of polybutylene terephthalate, a plastic used as an insulator for the electrical and electronics industries.

Foster Wheeler will be responsible for the design for the utilities and offsites of the project, as well as providing services for the engineering, procurement and construction.

Financial terms were not disclosed.

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