- 2020/09Taiwan: Final Beam Installed, CTCI 2nd Headquarters On Track to Completion by Mid-2021(Taipei) September 22, 2020— Taiwanese leading engineering, procurement, and construction (EPC) contractor CTCI Group today announced that it has held a beam installation ceremony for its second headquarters, marking a critical step to housing its various subsidiaries in one place as the Group is set to embrace a global expansion of its businesses.
The second headquarters, which broke ground in April 2019, is located at Beitou-Shilin Technology Park in Taipei, in proximity to CTCI’s first headquarters. Featuring smart engineering designs, it will become the main office building for CTCI’s Group Intelligent Solutions Business, Group Resource Cycling Business, and CTCI Education Foundation from July 2021 onwards.
John T. Yu, CTCI Group Chairman, says: “We are very pleased to have reached the final phase of the main structure’s construction with beam installation ceremony. What’s more cheering is that our global operations remain uninterrupted despite the COVID-19 pandemic, and we have broken our own records by securing multiple big contracts, reaching the NT$100 billion contract goal far ahead of schedule. This includes the unprecedented single deal we recently won.”
Now in its 41st year of history, CTCI Group is ready to lay another solid foundation for the next four decades of glory and sustainable development through the completion of its second headquarters.
- 2020/09Taiwan: Banks Show Avid Support for CTCI’s NT$100 Billion Power Plant EPC Project through Syndicated Loan(Taipei) September 17, 2020—On September 17, Taiwan’s leading engineering, procurement, and construction (EPC) contractor CTCI Corporation (TWSE: 9933) signed an agreement on a NT$18.5 billion (approximately US$630 million) syndicated loan to be jointly financed by five banks in Taiwan and abroad. The loan will be used for the issuance of performance bond for the recently secured approximately NT$100 billion (US$3.4 billion) contract to build five combined cycle gas-fired power generating units at Taipower’s Hsinta and Taichung Power Plants.
The syndicated loan is led by Taiwan’s Mega International Commercial Bank and Japan-based Mizuho Bank. Other participating banks include the Philippines-based Metrobank (Taipei branch), Taiwan Cooperative Bank, and Hua Nan Bank.
Banks show strong interest in financing this project by 130% oversubscription, or equivalent to NT$24 billion in syndicated loan. Final loan amount was agreed at NT$18.5 billion in a short time-span of two months. This indicates the banks’ confidence in CTCI Corporation’s outstanding engineering expertise and track records, as well as the likelihood that the company will reach new record this year in terms of total contract amount.
Hsinta and Taichung Power Plant project award— contracted by CTCI Corporation in partnership with General Electric— breaks CTCI Corporation’s historic record in terms of single contract amount, and is Taipower’s supporting measure for Taiwanese government’s energy diversification policies.
CTCI Group continues to be a strong supporter of Taiwanese government’s nuclear-free and energy transition policies by aligning its business strategies to the adoption of more green energy and natural gas, but less coal-fired power. Apart from its extensive EPC track records in nuclear, thermal, cogeneration, and combined cycle power plants, CTCI Group has been actively tapping into renewable energy sectors such as offshore wind, solar power, and biomass through its various subsidiaries.
In addition, CTCI is a practitioner of resource cycling, whose businesses encompass waste incineration plant operation and maintenance, as well as industrial and household wastewater treatment. It has successfully opened up new business frontiers in high-tech plant wastewater treatment and semiconductor process waste solvent recycling and reuse. By utilizing its most reliable engineering expertise, CTCI is committed to fostering national development while balancing the needs for environmental protection and economic growth.
- 2020/09Taiwan: CTCI Wins EPC Contract for Taipower Taichung LNG Receiving Terminal Regasification Project(Taipei) September 8, 2020—CTCI Corporation today announced that it has been awarded an approximately NT$19 billion (US$647 million) engineering, procurement, construction and commissioning (EPCC) contract to build a regasification facility of liquefied natural gas (LNG) Receiving Terminal for Taichung Power Plant, owned by Taiwan Power Company (Taipower).
This is the first LNG receiving terminal and regasification facility owned by Taipower other than CPC Corporation (CPC). Taiwanese government has set a goal to increase gas-fired power generation to 50% by 2025, as part of its commitment to achieving transition to clean energy. This project will ensure a stable natural gas supply with 720 tons per hour, which is enough to meet the demand of gas-fired power generating units 1 & 2 at Taichung Power Plant, as well as units 4, 5 & 6 at Tunghsiao Power Plant.
CTCI Corporation will carry out detailed design, procurement and supply of materials, construction and installment, pre-commissioning, commissioning, and one-year operation and maintenance service in this EPCC contract.
This award demonstrates huge success for CTCI in domestic LNG receiving terminal projects, as earlier this year CTCI Corporation was awarded an approximately NT$18.3 billion (US$623 million) EPCC contract to build CPC’s Third LNG Receiving Terminal at Guantang Industrial Area, Taoyuan.
CTCI Corporation has been working with CPC on LNG receiving terminal projects since 1984, later extending its experiences to Mainland China, India, and Thailand markets.
In terms of strong and proven track records for EPC works in Taiwan and the international market, CTCI is a reliable and preferred partner for power, hydrocarbon, and LNG EPC projects. It supports Taiwanese government’s clean energy policy by proactively taking part in renewable energy sectors, such as solar, wind, and biomass.
Awards & Certifications
- 2020/10Taiwan: CTCI Group Chairman John T. Yu Ranked by Harvard Business Review as Taiwan Top 100 Best-Performing CEOs for the Third Time(Taipei) October 8, 2020— For the third time in a row, CTCI Group Chairman John T. Yu has been selected as 2020’s Taiwan Top 100 Best-Performing CEOs by Harvard Business Review (traditional Chinese version), a prominent business magazine, which held the award ceremony today. This marks Mr. Yu’s superior leadership and business performance.
The “Taiwan Top 100 Best-Performing CEOs” survey is conducted by the world-acclaimed Institut Européen d'Administration des Affaires (French for “European Institute of Business Administration,” commonly known as INSEAD) along with Eleven Strategy & Management consulting firm, based on impartial and objective data.
These best-performing managers are recognized for their outstanding long-term business performances and capability in generating solid profits for shareholders, given the fact that the two evaluation criteria are the company’s return on equity during a candidate’s term of office and changes in the company’s market capitalization.
CTCI Group Chairman John T. Yu stated in the interview that CTCI has been able to increase its competitiveness because of exceptional management, resulting in stable operational and financial performances. In turn, this will allow the company to march towards the goal of sustainable management. Notably, due to CTCI’s successful countermeasures, the company’s global operations remain uninterrupted despite the rampant COVID-19 pandemic. The recently secured big contracts have helped CTCI break its past records in terms of single contract value and reach its NT$100 billion contract goal for 2020 well in advance.
Under the sound leadership of Mr. Yu, CTCI has exceled in financial performance and risk management, paving the way for its vision of sustainable operations.
- 2020//09Taiwan: Three CTCI Companies Again Awarded for Excellence in Corporate Social Responsibility by CommonWealth MagazineCommonWealth Magazine, a prominent Taiwanese magazine publisher, has announced the results for its 2020 Excellence in Corporate Social Responsibility Award, in which three CTCI companies have made the list. CTCI Corporation has climbed up to 16th place in the large enterprise category, an improvement from previous year, while ECOVE and CTCI ASI ranked 3rd and 10th place, respectively, in the medium-sized enterprise category. The result is a recognition of CTCI’s endeavor to fulfill corporate social responsibility by utilizing its core competencies.
Excellence in Corporate Social Responsibility Award selects top 100 performing companies based on four criteria, namely “corporate governance,” “corporate commitment,” “social participation,” and “environmental protection.”
For five years in a row, CTCI has been selected as a component of Dow Jones Sustainability Emerging Markets Index, and is the first and only engineering firm in Taiwan so far selected. It also ranks among top 5% five times in the Corporate Governance Evaluation conducted by Taiwan Stock Exchange, and is a constant winner of Taiwan Corporate Sustainability Awards (TCSA).
To realize its vision of enrooting engineering education and making bigger engineering influence, CTCI recently founded “CTCI University,” an online education platform. On the other hand, CTCI Education Foundation has been making unceasing efforts in terms of “sustainable development,” “youth empowerment,” and “international perspective” to honor CTCI’s CSR commitment. Besides, CTCI continues to apply its core competence in green engineering technologies in order to provide customers with energy-saving solutions that are economically viable, thus enhancing the green competitiveness of the engineering industry.
ECOVE, an affiliate of CTCI under Group Resource Cycling Business (GRCB), has ranked among top 3 performers in the medium-sized enterprise category for five years in a row. Starting out as a waste management and incineration business operator, ECOVE has actively played a role in Taiwan’s environmental education as promoter of waste reduction, in line with Taiwanese government’s policy. ECOVE’s colleagues design diverse environmental education courses, which includes visits to Energy-from-Waste plants operated by ECOVE. In addition, it has launched a 3-year program called "Step by step: Factories for Sustainable Environmental Education," which takes the initiative to reach out to Taiwan's elementary schools and teach our future leaders about sustainable lifestyle, and thereby spreading its business influence.
CTCI ASI under CTCI’s Group Intelligent Solutions Business (GISB) once again ranks among top 10 in the medium-sized enterprise category for fulfilling CSR with its core competencies, “smart plants and smart transportation.” Its data management technology provides clients with optimized and safe energy management solutions for further industrial transformations. Meanwhile, it has actively engaged in talent cultivation through industry-academy cooperation and industry partnerships.
As a leader in Taiwan’s engineering industry, CTCI Group is committed to contributing to sustainable development by utilizing its four core competencies, namely “green engineering,” “smart plants,” “intelligent EPC,” and “circular economy,” combining the synergistic efforts of all group companies. It will continue to strive for a balance between business development, environmental protection, and social participation.
- 2020/07Taiwan: CTCI Receives OSHA’s Gold Award for Excellent Man-Hour Record without Lost Time InjuriesBy holding “safety as the first priority” as core value of CTCI’s Health, Safety, Environment (HSE) policy, we have been dedicated to providing our staff with a safe and secure workplace. We are pleased to announce that CTCI headquarters is now certified with a record of 49.09 million man-hours without lost time injuries from January 2007 to December 2019. Thanks to our exceptional performance, we received a gold award from the Occupational Safety and Health Administration (OSHA), Ministry of Labor.
OSHA’s Award for Excellent Man-Hour Record without Lost Time Injuries aims to promote occupational HSE awareness for employers and employees alike and to encourage public institutions to implement self-management to achieve zero accident objective. The award was presented to CTCI by Industrial Safety and Health Association of the R.O.C. (Taiwan), authorized by OSHA.
CTCI will continue to enhance the functionality of the HSE management system as well as encourage organization-wide engagement to prevent occupational hazards. We will also enhance all staff’s safety and health awareness, firmly commit to the “safety first” policy, so that we can create a safer and healthier workplace to honor our brand value of being the most reliable global engineering services provider.
CTCI Spokesperson Name: Ming-Cheng, Hsiao Job Title: Executive Vice President Ext: 02-2833-9999 # 10099 e-mail: email@example.com CTCI Deputy Spokesperson Name: Patrick Lin Job Title: Chief Financial Officer Ext: 02-2833-9999 # 16011 e-mail: firstname.lastname@example.org