Foster Wheeler in Rabigh power project

Updated 25 June 2014
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Foster Wheeler in Rabigh power project

Foster Wheeler has announced that BHI Co., Ltd., a licensee of its Global Power Group, has been awarded a contract by Samsung C&T for the design and supply of six heat recovery steam generators (HRSGs) for the 2,100 megawatt Rabigh II combined-cycle power plant in Saudi Arabia.
Commercial operation of the units is scheduled to begin in 2017.
BHI offers HRSGs, pulverized coal (PC) boilers, circulating fluidized bed (CFB) boilers and oil and gas boilers all utilizing Foster Wheeler’s proven technology.
BHI will design and supply the six HRSGs which will be coupled to six SGT6-5000F Siemens gas turbines firing natural gas and oil.
“BHI is very pleased to have received this major award,” said Woo Jong-Ihn, president of BHI Co., Ltd.


Oman regulator suspends KPMG from new auditing work over ‘irregularities’

Updated 14 November 2018
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Oman regulator suspends KPMG from new auditing work over ‘irregularities’

  • In Oman, KPMG is banned for one year from doing new auditing work for companies regulated by the CMA
  • It is another setback for KPMG, which is under scrutiny after losing clients in South Africa following its role in a high-profile corruption scandal there

DUBAI: Oman’s securities regulator said on Wednesday it has suspended audit firm KPMG from doing new work for a year after finding major financial and accounting irregularities at some listed companies.
The Capital Market Authority (CMA) took corrective steps at those companies to protect investors, it said in a statement without naming the firms or giving other details.
A review by the CMA “established professional negligence on the part of some audit firms that warranted disciplinary measures against them in the interests of the investors and other stakeholders,” the CMA said.
It is another setback for KPMG, which is under scrutiny after losing clients in South Africa following its role in a high-profile corruption scandal there and has faced investigations in Britain over its auditing of some clients.
In Oman, KPMG is banned for one year from doing new auditing work for companies regulated by the CMA, including listed companies, securities firms and insurers.
The penalty does not affect projects where KPMG has already been appointed, and KPMG has a right to appeal against the penalty before an independent authority, the CMA said.
KPMG said it could not immediately comment on the CMA’s statement.