CTCI Corp (中鼎工程), the nation’s largest engineering and construction services provider, has further expanded its services to the power sector after securing a build-operate-transfer project in Vietnam in cooperation with Japanese and South Korean companies.
The 1.32 gigawatts thermal power plant project was signed in January this year and began construction in August, a CTCI official said by telephone yesterday, declining to elaborate on the size of the project.
Together with Toshiba Energy Systems & Solutions Corp, IHI Corp and Doosan Heavy Industries & Construction Co, CTCI is to build a power plant with two supercritical coal-fired boilers, each with a capacity of 660 megawatts (MW), at the Van Phong Economic Zone in Khanh Hoa Province, the official said on condition of anonymity.
Japanese trading house Sumitomo Corp will be in charge of the power plant’s construction, operation and maintenance for 25 years, which is expected to start commercial operation in 2023, CTCI said.
The project would further consolidate CTCI’s position in Vietnam’s engineering and construction market, company chairman John Yu (余俊彥) said in a statement.
CTCI will continue to seek business opportunities in Vietnam through its local unit, CIMAS Engineering Co, which was established in 2001, it said.
CTCI mainly derives its revenue from Southeast Asia, which accounted for 36 percent of sales in the first eight months of this year, followed by 33 percent in Taiwan and 10 percent in China.
The company has completed a small power generator project for Thai Oil Public Co and a 300MW combined cycle power plant project in Malaysia’s Kimanis Township.
In Taiwan, it plans to bid for offshore wind development projects this quarter, including underwater base and pile construction worth NT$10 billion, the company said.
This story has been modified since it was first published to clarify any possible misunderstandings.
Gogoro Inc (睿能創意) yesterday launched its first electric bicycle, the Gogoro Eeyo 1, in Taiwan, after unveiling the bike in New York in late May and in France on Tuesday. The company said it would also introduce the series in other European countries such as Germany and the Netherlands. The “Eeyo project” is the fourth of Gogoro’s eight projects that concentrate on smart transportation, which includes Gogoro’s electric scooter, battery swap system and electric scooter sharing service, company founder and chief executive officer Horace Luke (陸學森) told a media briefing in Taipei. “There are various types of city commuters. We will not
EXPERIMENTAL DRUG: While news about a COVID-19 vaccine is more eye-catching, developing a treatment would be more viable, the Senhwa boss said Senhwa Biosciences Inc (生華科) aims to raise NT$1.5 billion (US$50.57 million) by issuing 15 million new common shares in the third quarter of this year to fund the research of new drugs, including the experimental drug Silmitasertib for the treatment of COVID-19, the company said on Monday. That would be the firm’s largest fundraising effort after it raised more than NT$1.4 billion from an initial public offering on the Taipei Exchange (TPEX) in April 2017, chief financial officer Sarah Chang (張小萍) told the Taipei Times by telephone. The price of the new shares would depend on the firm’s average share price
NOT A PANACEA: Offering 5G services would not solve the problem of declining telecom incomes, chairman Sheih Chi-mau said, expecting a flat 5G telecom revenue Chunghwa Telecom Co (中華電信) yesterday became the nation’s first telecom to debut its 5G services, offering tiered tariffs that include a threshold of NT$599 and flat rates, as it aims to switch half of its subscribers to the 5G network within three years. Subscribers would have unlimited data transmission for monthly fees starting at NT$1,399 — the same flat rate as when the company launched its 4G service in 2014 — and they can subscribe to the highest-rate plan for NT$2,699 per month for faster data transmission speeds and larger bandwidth, the company said. Data transmission speeds would be within the range
ROW: A probe would determine if the rights of shareholders who were not allowed to vote yesterday had been violated, while the stock exchange also wants answers The election of board directors yesterday at Tatung Co (大同) sparked controversy after the company blocked some institutional and individual shareholders from participating in the general shareholders’ meeting, prompting the Financial Supervisory Commission (FSC) to announce that the vote would be investigated. Lin Kuo Wen-yen (林郭文艷) was re-elected as chairwoman of the household-appliance maker’s nine-member board, but prior to the vote she announced that several shareholders would not have voting rights. They were being denied a vote because they had contravened the Business Mergers and Acquisitions Act (企業併購法), and the Act Governing Relations Between the People of the Taiwan Area and