B&W Awarded $250 Million Contract for John W. Turk, Jr. Power Plant
08 Mai 2007 - 5:27PM
Business Wire
McDermott International, Inc. (NYSE:MDR) announced today that its
subsidiary, The Babcock & Wilcox Company (�B&W�), has
received a contract valued at more than $250 million from American
Electric Power (NYSE:AEP), for its Southwestern Electric Power
Company (�SWEPCO�) subsidiary, to design, supply and erect a
600-megawatt (�MW�) net coal-fired boiler and environmental control
equipment for Unit 1 at the John W. Turk, Jr. Power Plant, a new
baseload power plant in Hempstead County, Ark., about 15 miles
northeast of Texarkana, Ark. The plant will burn Power River Basin
coal and will feature advanced, ultra-supercritical clean coal
combustion technology. It will be one of the first plants of its
kind to go into operation in the U.S. Ultra-supercritical
generation is an efficient, pulverized coal technology that
requires less coal per megawatt and creates fewer emissions than
with a traditional, coal-fired unit. These units operate at higher
temperatures and pressures which increases overall plant
efficiency. B&W's project scope includes the engineering,
design, supply and installation of a 600 MW net pulverized
coal-fired spiral wound universal pressure boiler, a selective
catalytic reduction system, a dry flue gas desulfurization system,
pulse jet fabric filter and associated auxiliary equipment.
Engineering has already begun at B&W�s headquarters in
Barberton, Ohio. All pressure parts will be fabricated by B&W�s
joint venture, Babcock & Wilcox Beijing Company, Ltd., in
China. Pending regulatory approval for the plant, Babcock &
Wilcox Construction Co., Inc. will begin construction activities in
2008. The unit is scheduled for commercial operation by the summer
of 2011. �AEP is a strong proponent of clean coal technology as
well as a long-term B&W customer, so we are extremely pleased
to be selected for this award,� said Brandon Bethards, president of
B&W�s Fossil Power Group. �We appreciate AEP�s confidence in
our technology and in our project management and construction
capabilities, and we look forward to working with them to bring
this new plant online.� American Electric Power is one of the
largest electric utilities in the United States, delivering
electricity to more than five million customers in 11 states. AEP
ranks among the nation�s largest generators of electricity, owning
nearly 36,000 megawatts of generating capacity in the U.S. Its
SWEPCO subsidiary serves 454,000 customers in three states: 112,000
in western Arkansas, 174,000 in Northwest Louisiana, and 168,000 in
East Texas. McDermott is an engineering and construction company,
with specialty manufacturing and service capabilities, focused on
energy infrastructure. McDermott�s customers are predominantly
utilities and other power generators, major and national oil
companies, and the United States Government. With its global
operations, McDermott operates in over 20 countries with more than
20,000 employees, and can be found on the internet at
www.mcdermott.com. In accordance with the Safe Harbor provisions of
the Private Securities Litigation Reform Act of 1995, McDermott
International, Inc. cautions that statements in this press release
which are forward-looking and provide other than historical
information involve risks and uncertainties that may impact
McDermott�s actual results of operations. The forward-looking
statements in this press release include, among other things, the
value, work scope and timing associated with the John W. Turk, Jr.
Power Plant. Although McDermott�s management believes that the
expectations reflected in those forward-looking statements are
reasonable, McDermott can give no assurance that those expectations
will prove to have been correct. Those statements are made based on
various underlying assumptions and are subject to numerous
uncertainties and risks, including without limitation change orders
and other modifications to contracts. If one or more of these risks
materialize, or if underlying assumptions prove incorrect, actual
results may vary materially from those expected. For a more
complete discussion of these risk factors, please see McDermott�s
annual report on Form 10-K for the year ended December 31, 2006
filed with the Securities and Exchange Commission.
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