(Free Press Release) SPX Subsidiary to Provide 20 Feedwater Heaters
for Two Supercritical Coal-Fired Power Plants in India
Feedwater Heaters Designed to Enhance Efficiency for New Power Stations
Being Constructed as Part of BARH II Project
Mumbai, October 1, 2010 -- SPX Corporation (NYSE: SPW) today announced that its wholly-owned subsidiary SPX Heat Transfer, Inc. has been awarded a contract of approximately $18 million to design and manufacture 20 new feedwater heaters for two new coal-fired power plants being built in Bihar, India.
The formal agreement was signed by SPX Heat Transfer and Bharat Heavy Electricals Limited (BHEL) of India, which has been tasked with the design, engineering, construction and installation of the BARH Phase II Projects, which are being built for Indian energy company National Thermal Power Corp (NTPC). Units 1 and 2 of BARH II will each deliver 660 MW and are scheduled to commission in March 2012 and January 2013, respectively.
"India's energy consumption has been increasing at one of the fastest rates in the world due to population growth and economic development, so it is clearly a very important growth market for SPX," said SPX Chairman, President and Chief Executive Officer Christopher J. Kearney. "Our deep expertise in manufacturing feedwater heaters and numerous other components that are critical to nearly all types of power plants positions our company well to play an active role in helping India continue to expand its power generation capacity."
Plans call for SPX Heat Transfer to manufacture the feedwater heaters at its main facility located in Tulsa, Oklahoma and then ship the units to India.
"This is SPX Heat Transferâ€˜s second major order for India and reflects our decades of experience spent manufacturing heat transfer equipment for the global electric utility, cogeneration and geothermal energy-producing markets," said Drew Ladau, SPX segment president. Ã¢â‚¬Å“Having the opportunity to collaborate on this project with Bharat Heavy Electricals Limited and National Thermal Power Corp will hopefully serve to further elevate SPXâ€˜s profile in India and lead to other assignment opportunities.Ã¢â‚¬
Announced in 2006, the two-unit 1,320MW Barh II extension will deliver power mostly to North, West and East India with six 400KV electrical substations linking BARH to Kahalgaon, Sasaram and Biharsharif. It is expected to be completed by January 2013. The plant uses supercritical steam generation, with water instantly being converted into steam without passing through the boiling phase.
SPX Corporation (NYSE: SPW) is a Fortune 500 multi-industry manufacturing leader that provides its customers with highly-specialized, engineered solutions to solve critical business issues.
SPX products and technologies play an important role in the expansion of global infrastructure to help meet increased demand for power and energy and support many different sources of power generation, including coal and natural gas, nuclear, solar and geothermal. The companyâ€˜s innovative product portfolio, containing many energy efficient products, includes cooling systems for power plants throughout the world; highly advanced food processing components and turnkey, scalable systems serving the global food and beverage industry; process equipment that assists a variety of flow processes including oil and gas exploration, distribution and refinement and power generation; handheld diagnostic tools that aid in vehicle maintenance and repair; and power transformers that allow utility companies to regulate electric voltage, transmission and distribution.
With headquarters in Charlotte, North Carolina, SPX has 15,000 employees in more than 35 countries worldwide. Visit http://www.spx.com.
Certain statements in this press release may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. Please refer to our public filings for a discussion of certain important factors that relate to forward-looking statements contained in this press release. The word "expected," "anticipated" and similar expressions may identify forward-looking statements. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Statements in the press release speak only as of the date of this press release, and SPX disclaims any responsibility to update or revise such statements.