Chicago Bridge & Iron recently received two contracts valuing over $40 million for air quality control program for five existing coal-fired units. These coal units have a capacity of generating approximately 4,000 megawatts of electricity. The financial details of the contracts were not disclosed.
As per the contracts, Chicago Bridge will primarily be providing engineering, procurement and construction (EPC) for deploying advanced air quality control technologies. These technologies will help in reducing mercury emissions, thereby making the coal units compliant with the Environmental Protection Agency's Mercury and Air Toxics Standards (MATS).
The Environmental & Infrastructure division of Chicago Bridge provides full-scale environmental and infrastructure services for government and private-sector clients around the world. Through this division, the company provides program and project management, design-build, engineering and construction, sustainability and energy efficiency, remediation and restoration, science and technology, facilities management, and emergency response and disaster recovery.
Prior to this, Chicago Bridge had signed an indefinite delivery/indefinite quantity contract with the Environmental Protection Agency (EPA) to provide environmental remediation services.
Chicago Bridge has always received projects in its core area of expertise such as LNG storage tanks and engineering, procurement, construction activities for the energy sector to name a few. Now with the receipt of this twin awards, Chicago Bridge can also benefit from the opportunities in the environmental sector.
ChicagoBridgeprimarily engages in the design, build, repair and modification of steel tanks and other steel plate structures. In addition, the company also has expertise in the design and build of petroleum terminals, refinery pressure vessels, low temperature and cryogenic storage facilities and elevated water storage tanks for clients internationally.
Apart from these, Chicago Bridge is also a leading provider of air quality control systems, which include wet and dry flue gas desulfurization, dry sorbent injection, nitrogen oxides and mercury removal, and particulate emissions control systems. The company has been performing emissions retrofits on projects exceeding 40,000 megawatts of power generation over the past decade.
Chicago Bridge currently has a Zacks Rank #3 (Hold). Other industry players such as Orion Marine Group Inc. (ORN - Free Report) Harris & Harris Group Inc. and Willdan Group Inc. (WLDN - Free Report) carry a Zacks Rank #2 (Buy).