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London, UK,
28
June
2016

MOMENTUM joint venture wins €174m ITER contract

Newsfacts:
  • MOMENTUM JV, comprising Amec Foster Wheeler, Assystem and KEPCO E&C, named construction management-as-agent contractor on unique international project
  • Project managing the assembly of more than one million components in world’s largest fusion reactor
  • Key role in international effort to make fusion a viable source of almost limitless, carbon-free energy

Representatives of the ITER Organisation announce today that they have signed a construction management-as-agent (CMA) contract with the MOMENTUM joint venture, led by Amec Foster Wheeler in partnership with Assystem and KEPCO Engineering and Construction Company.

MOMENTUM will play a vital role in ITER’s project to build the world’s largest nuclear fusion reactor at Cadarache in France. The 10-year contract is expected to be worth €174m and there is an option for a three-year extension.

The role of the Construction Management-as-Agent is absolutely central to the success of the ITER Project. And since fusion holds so much potential as an environmentally clean and virtually limitless, safe source of energy, the stakes of success for the seven ITER Members are very high. With the expertise represented by the MOMENTUM joint venture, we feel confident that the assembly and installation of the ITER facility will meet its objectives: of delivery on time and on budget with the highest standards of quality.
Bernard Bigot, Director-General of the ITER Organisation
Clive White, President of Amec Foster Wheeler’s Clean Energy business
The MOMENTUM team is proud and delighted to be chosen for such a pivotal role on one of the world’s most important energy projects. The MOMENTUM partners will bring complementary skills to bear and embed a can-do project culture focused on safety, quality and maintaining schedule and costs. Amec Foster Wheeler has played an important part in the ITER project for over 20 years and this important contract underlines our key role in developing future nuclear technologies while continuing to support the existing fission power industry.
Clive White, President of Amec Foster Wheeler’s Clean Energy business
MOMENTUM’s three partners will allocate their best people to address the challenges related to such a unique project. This new CMA contract embodies Assystem’s continuous involvement in the ITER project since work began at Cadarache in 2005. It highlights our expertise in complex, international project management.
Stéphane Aubarbier, Chief Executive Officer of Assystem
KEPCO E&C has a long-term commitment to ITER, having delivered technical and project management services since 2008. Our appointment alongside our partners in Momentum will help to strengthen technical cooperation for the successful completion of the ITER project, which is of such vital importance to the development of the world’s future energy.
Koo-Woun Park, President and Chief Executive Officer of KEPCO E&C

As CMA contractor, MOMENTUM will manage and coordinate the assembly and installation of more than one million components for the ITER reactor. At its centre is the world’s largest tokamak, an experimental machine designed to harness the energy of fusion, the nuclear reaction that powers the sun.

The scope of services includes contract management, configuration management, project management, construction preparation, site coordination, works supervision, and activities leading up to mechanical completion. The contract does not cover design or fabrication of components, construction of the buildings or building services.

Image Credit © ITER Organization
www.iter.org

Notes to editors

Amec Foster Wheeler (www.amecfw.com) designs, delivers and maintains strategic and complex assets for its customers across the global energy and related sectors.

 

Employing around 40,000 people in more than 55 countries and with 2015 revenues of £5.5 billion, the company operates across the oil and gas industry – from production through to refining, processing and distribution of derivative products – and in the mining, clean energy, power generation, pharma, environment and infrastructure markets.

 

Amec Foster Wheeler offers full life-cycle services to offshore and onshore oil and gas projects (conventional and unconventional, upstream, midstream and downstream) for greenfield, brownfield and asset support projects, plus leading refining technology.

 

The company’s nuclear business stands out for its ability to bring world-leading expertise, technology and scientific capabilities to customers’ challenges throughout the life-cycle from new build and reactor operations to life extension and decommissioning. With 4,000 nuclear specialists around the world, we’re able to support our customers with local resources.

 

Amec Foster Wheeler shares are publicly traded on the London Stock Exchange and its American Depositary Shares are traded on the New York Stock Exchange. Both trade under the ticker AMFW.

 

 

Assystem is an international group specialised in engineering. As a key participant in the industry for 50 years, Assystem supports its clients in developing their products and managing their capital expenditure throughout the product life cycle. Assystem employs nearly 12,000 people worldwide and reported €908 million in revenue for 2015. Assystem SA is listed on Euronext Paris. For more information: www.assystem.com - Follow Assystem on Twitter: @Assystem

 

KEPCO Engineering and Construction Company (www.kepco-enc.com), Established in 1975 by the government policy of achieving self reliance on design technological independence for power plants. KEPCO E&C attained technological independence in the nuclear and thermal power plant design field. The power plants which KEPCO E&C has designed are recognized for their excellence worldwide. On the basis of developing domestic plant design, KEPCO E&C has been in charge of core processes while providing technical support for plants in operation, including technology development related to nuclear, thermal, hydraulic, and cogeneration plant designs. With its experience and expertise in the engineering of eco-friendly power plants, KEPCO E&C is accomplishing remarkable achievements in the environmental, and new and renewable energy business fields. Armed with world-class technology, KEPCO E&C is now growing into a highly successful energy company in both our domestic and the international market in terms of total solutions, which range from the engineering, procurement and construction of power plant to environmental technologies and new & renewable energy facilities.

 

ITER, a unique international collaboration bringing together China, the European Union, India, Japan, Korea, Russia and the USA, has been established to demonstrate the scientific and technological feasibility of fusion power. ITER is designed as the key experimental step between today’s fusion research machines and tomorrow’s fusion power plants.

 

Fusion is the nuclear reaction that powers our sun and stars. Energy is released when very light nuclei are brought together to form more stable, heavier ones. This occurs inside the sun at 15 million°C, where hydrogen nuclei are fused together to form helium. The aim of fusion research is to recreate this process in a man-made reactor. If the reactor’s output were significantly greater than the input needed to heat its fuel, this would create a source of safe, non-carbon emitting and virtually limitless energy.

 

 

Forward-Looking Statements

 

This announcement contains statements which constitute “forward-looking statements”. Forward-looking statements include any statements related to the timing, results and success of contracts, and are generally identified by words such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “will,” “may,” “continue,” “should” and other similar expressions. Forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Amec Foster Wheeler, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking statements. Amec Foster Wheeler does not undertake to update any of the forward-looking statements after this date to conform such statements to actual results, to reflect the occurrence of anticipated results or otherwise.