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.
NEW IDENTITY: Known for its software, India has expanded into hardware, with its semiconductor industry growing from US$38bn in 2023 to US$45bn to US$50bn India on Saturday inaugurated its first semiconductor assembly and test facility, a milestone in the government’s push to reduce dependence on foreign chipmakers and stake a claim in a sector dominated by China. Indian Prime Minister Narendra Modi opened US firm Micron Technology Inc’s semiconductor assembly, test and packaging unit in his home state of Gujarat, hailing the “dawn of a new era” for India’s technology ambitions. “When young Indians look back in the future, they will see this decade as the turning point in our tech future,” Modi told the event, which was broadcast on his YouTube channel. The plant would convert
Nanya Technology Corp (南亞科技) yesterday said the DRAM supply crunch could extend through 2028, as the artificial intelligence (AI) boom has led the world’s major memory makers to dramatically reduce production of standard DRAM and allocate a significant portion of their capacity for high-bandwidth memory (HBM) chips. The most severe supply constraints would stretch to the first half of next year due to “very limited” increases in new DRAM capacity worldwide, Nanya Technology president Lee Pei-ing (李培瑛) told a news briefing. The company plans to increase monthly 12-inch wafer capacity to 20,000 in the first half of 2028 after a
Property transactions in the nation’s six special municipalities plunged last month, as a lengthy Lunar New Year holiday combined with ongoing credit tightening dampened housing market activity, data compiled by local land administration offices released on Monday showed. The six cities recorded a total of 10,480 property transfers last month, down 42.5 percent from January and marking the second-lowest monthly level on record, the data showed. “The sharp drop largely reflected seasonal factors and tighter credit conditions,” Evertrust Rehouse Co (永慶房屋) deputy research manager Chen Chin-ping (陳金萍) said. The nine-day Lunar New Year holiday fell in February this year, reducing
Zimbabwe’s ban on raw lithium exports is forcing Chinese miners to rethink their strategy, speeding up plans to process the metal locally instead of shipping it to China’s vast rechargeable battery industry. The country is Africa’s largest lithium producer and has one of the world’s largest reserves, according to the US Geological Survey (USGS). Zimbabwe already banned the export of lithium ore in 2022 and last year announced it would halt exports of lithium concentrates from January next year. However, on Wednesday it imposed the ban with immediate effect, leaving unclear what the lithium mining sector would do in the
RSS