Synergizing Breakthroughs with Accelerated Growth

Lisren to this article 

CTCI Chairman Michael Yang

CTCI is a leading provider of the most reliable global engineering services. Over 40 years, CTCI has dedicated significant efforts to the environmental, power, transportation, industrial, refinery, petrochemical, advanced technology facility, and LNG terminal business sectors. In response to the rapidly evolving trend of green transformation and development of the high-tech industry, CTCI has proactively seized opportunities to expand into new businesses, striving for sustainable growth. In 2023, CTCI rose to 55th place in the International Contractor rankings by Engineering News-Record, a prestige engineering magazine in the US, while retaining Top 1 in the contractor sector among the Top 650 Service Enterprises surveyed by the CommonWealth Magazine. CTCI is also among the top 100 Business Groups in Taiwan according to 2023 Business in Taiwan, published by the Center for Research in International Finance, securing the position of the number one turnkey engineering group in Taiwan and among the top 100 globally. 

Establishing Global Market Presence: Excelling to New Peaks

Looking back on the previous year, CTCI achieved excellence in business performance, with consolidated sales revenue amounting to NTD 103.5 billion, officially joining the hundred billion club. An estimated NTD 346.9 billion of construction backlog, breaking the Group’s record along with the number of consolidated sales. By winning a total of NTD 111.8 billion in new contracts, it marks the company’s fourth consecutive year of reaching the hundred billion benchmarks.

In terms of business expansion, CTCI adopts a diversified layout to establish symbolic landmark achievements globally. For example, the most iconic landmark in the hydrocarbon and petrochemical sector is none other than the Ras Laffan Petrochemicals Project in Qatar. In the power and LNG sector, ongoing projects include the Taichung, Hsingta, and Senba Phase II gas-fired power plants, as well as the Taoyuan Guantang LNG Third Receiving Terminal. In addressing the global water shortage issue, CTCI takes action. Building on the success of the TSMC Southern Taiwan Science Park Water Reclamation Plant, a wastewater reclamation facility that regenerates industrial wastewater for reuse in the semiconductor process, CTCI continues to develop the North District Water Resources Recycling Center in Taoyuan and the Sewerage System in Chungli. These projects breathe new life into wastewater, meeting the industrial water needs. In the trending circular economy sector, projects include the City Biomass Energy Center in Taoyuan, the Green Energy Sustainable Circulation Center in Chiayi, and the Southern Taiwan Science Park’s Phase 2 Resource Renewal Center Expansion Project. These initiatives not only aid in various waste disposals but also convert waste into energy, contributing to electricity generation. In terms of trackwork, CTCI participates in the construction of the Xinyi Line Eastern Extensions, Wanda Line, and Circular Line. These efforts contribute to green transportation and enhance public transportation services.

Moreover, CTCI is proud to say that for three years it has ventured in the high-tech industry, and followed closely with the trend of global high-tech development trend with its most reliable service and professionality, it has swiftly established experience and achievements in this new field, accumulating signed contracts of nearly a hundred billion and revenues exceeding 30 billion, becoming a crucial pillar of the group's business. The ongoing project includes factory constructions for worldwide DRAM Manufacturer and Data Center in Taiwan, and projects for Taiwan manufacturers in India. The outstanding results have earned recognition globally, with CTCI ranking No.9 upon its first listing in the Engineering News-Record International survey in the Contractors category, which includes companies in the sectors in semiconductor manufacturing, electronics manufacturing services and more. Looking ahead, with the global economic recovery, governments and enterprises worldwide are expected to increase their investments, presenting promising potential business opportunities. CTCI will continue to closely monitor and actively engage, striving to achieve further success. 

Engineering in Green: A Guardian of the Earth

CTCI has long been committed to ESG in its core business, focusing on three major aspects: green technology, green contracting, and green investment. It aims to create an economically and environmentally beneficial "Green Engineering" initiative, collaborating with global partners to establish a low-carbon supply chain. With this collaboration, CTCI can help in accelerating the net-zero process, while being the Guardian to sustainable earth with its engineering expertise.

• Green Technology: fortifying layouts for self-owned patent
In project execution, CTCI not only incorporates new technologies but also applies more energy-efficient and carbon-reducing equipment and processes. The company is actively involved in the research and development of proprietary technologies, strengthening its patent portfolio. In recent years, CTCI has worked out over 100 specific and viable energy-saving and carbon reduction improvement solutions, obtaining patents in six areas related to incineration, wastewater, and others.

• Green Contracting: seizing the opportunity with capability
The number of green and low-carbon-related projects procured by CTCI have seen continuous growth over the years. Taking the amount of construction backlog as an example, it has surged from NTD 43.8 billion in 2015 to NTD 212.8 billion in 2023. This success demonstrates the company's ability to seize green opportunities and fortify its competitive strength. As the global demand for "green engineering" increases, CTCI's green contracting business is expected to reach new peaks.

• Green Investment: building steady business model
CTCI has currently accumulated over NTD 40 billion in green investments and continues to seek new investment opportunities in various fields such as domestic and international wastewater, recycled water, incinerators, solar photovoltaics, and more. The aim is to create a new business model aligned with the carbon reduction trend, fostering long-term and stable revenue. CTCI has also secured a total of NTD 7 billion in green finance, encompassing green financing, guarantees, and bonds, showcasing the high recognition from investment institutions.

In addition to developing ESG initiatives across three major dimensions, CTCI has also made green commitments, pledging to achieve net-zero targets for all office locations by 2030 and for production and service locations by 2050. The company has completed carbon inventories for all its subsidiaries in 2022, using this as a baseline to plan the group's net-zero pathway and driving collective efforts from all members. Moreover, CTCI has established the CTCI Supplier Net Zero Alliance, offering guidance and incentive measures to assist global suppliers in carbon reduction. In the future, CTCI will accelerate the achievement of net-zero goals through several approaches: investing in as well as utilizing renewable energy, researching the application of CCUS, and energy storage technologies.

Challenges Transformed: Catalyzing Growth in Four Dimensions

As globalization continues to expand, the scale of projects undertaken by CTCI has grown increasingly vast, accompanied by a spiraling number of risks and challenges. We will focus on the following four directions, transforming challenges into the fuel for growth, in order to rapidly enhance the overall competitiveness of the organization.

• Building value through technology:
CTCI has long been committed to technological innovation and application, developing its very own intelligent EPC (iEPC), Digital Twin technology, iManagement platform, pipeline cleaning robots, and more. With outstanding achievements, it has been honored with the Ding-Ge Digital Transforming Award presented by the Harvard Business Review in the past two years. In the future, CTCI will continue to focus on new technologies such as 5G, BIM, AI, Cloud, AR/VR, bringing positive impacts and transformations to the industry, while seizing opportunities to incorporate these technologies to make project execution faster, better, and more competitive.

• Agile learning for an innovative boost: 
As part of the engineering services industry, CTCI believes that talent is its greatest asset and the foundation of development. To ensure the readiness of its global team of 8,000 colleagues at all times, CTCI launched the "CTCI University" online learning platform in recent years. Offering over a thousand courses, CTCI aims to create a "borderless, real-time" learning experience, fostering colleagues' agile learning capabilities to strengthen the group's resilience.

• Fortifying risk control with steady hand:
As the company expands its scale and welcomes greater business opportunities, it is essential to exercise caution and guard against potential risks such as legal compliance, taxation, and media reputation. CTCI has recently established a group-level Risk Management Office and appointed a Chief Risk Officer. In addition to overseeing and coordinating management, the company also aims to enhance the risk awareness of all colleagues through this initiative, ensuring more robust operations.

• Teamwork makes the dream work:
CTCI's business footprint has expanded to over 10 countries, with more than 50 business locations established. These decentralized entities, akin to the many CTCI avatars situated across various regions, not only enhance their individual strengths but also must collaborate closely. This collaboration ensures that different business domains within the group can synergize and operate collectively to achieve maximum efficiency.

Forging Corporate Culture: Pioneering the World's Most Reliable Global Engineering Service Team

In the footsteps of global growth, CTCI delivers the 'Most Reliable' turnkey engineering services. This not only allows CTCI to be repeatedly chosen as partners by international clients but also enables the company to successfully venture into diversified operations. With outstanding brand development and comprehensive performance, we have been ranked 22nd in the Best Taiwan Global Brands Award with a brand value of USD 95 million, making us the sole construction industry enterprise selected in Taiwan. This recognition affirms the collective efforts of our global colleagues and inspires us to continue forging ahead boldly.

Looking ahead to 2024, CTCI will align itself with the corporate culture of "Professionalism, Integrity, Teamwork, Innovation" and persist in synergizing breakthroughs for accelerated growth. CTCI is resolute in demonstrating to the world that we are the premier provider of the most reliable engineering services globally.