CTCI Succeeds in Acquiring Mega Power Plant EPCC Contract in Vietnam

Taipei, Taiwan — Taiwan’s largest EPC contractor CTCI has been awarded an EPCC contract for Van Phong-1 1,320MW Thermal Power Plant BOT Project in Vietnam in cooperation with IHI Corporation, Toshiba Energy Systems & Solutions Corporation, and Doosan Heavy Industries and Construction Co., Ltd as consortium. The contract award marks a milestone for the company to execute large-scale power plant in Vietnam and paves its way to bid for similar projects in the future.

The project, located in Van Phong Economic Zone, Khanh Hoa Province in the southern part of Vietnam, comprises two supercritical coal-fired boilers (660 MW each) targeted to be commercially operated in 2023 to mitigate power shortage in southern Vietnam. The owner, Sumitomo Corporation, a Japanese trading house, established Van Phong Power Company Limited (VPCL) as a Build-Operate-Transfer (BOT) company and signed a 25-year BOT Contract and Power Purchase Agreement (PPA) with Ministry of Industry and Trade and Vietnam Electricity (EVN) in 2018.

CTCI has proven expertise in power plants solutions of Engineering, Procurement, Construction, Commissioning, Operation, and Maintenance. Its track records of the execution of power plant projects include Talin, Linkou, Tunghsiao, Datan, and Lungmen Power Plant Project in Taiwan, TOP SPP Small Power Producer Project in Thailand, and the 300MW Kimanis Combined Cycle Power Plant in Malaysia.

Back in 2001, CTCI has established CIMAS Engineering Co., Ltd. in Vietnam for development of local business opportunities. “While the project contributes a share of fostering Vietnam’s economic development by addressing challenges faced locally, it further consolidates CTCI’s position in Vietnam market” says CTCI Group Chairman John T. Yu.

About CTCI  http://www.ctci.com

CTCI (TWSE: 9933, TPEx: 5209, TPEx: 6803) is a global engineering services provider that offers a comprehensive range of services, products, and solutions. Since its founding in 1979, CTCI has strived to deliver the world’s most reliable engineering, procurement, fabrication, construction, commissioning and project management services. Headquartered in Taipei, Taiwan, CTCI serves the hydrocarbon, power, environmental, transportation and industrial markets. The company is Taiwan’s leading EPC services provider, with over 7,000 employees in around 40 affiliates spanning across more than 15 countries worldwide, and is a member of the Dow Jones SustainabilityTM Emerging Markets Index.