Thu, Oct 03, 2019 - Page 12 News List

CTCI expands into power sector with Vietnam project

By Kwan Shin-han  /  Staff reporter

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.

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