In October 2019, CTCI was 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 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 (660MW each) targeted to be commercially operated in 2023 to mitigate power shortage in southern Vietnam. The owner, Sumitomo Corporation 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.
In July 2019, CTCI secured Gulf Coast Growth Ventures (GCGV) monoethylene glycol (MEG) EPC project in the United States by forming a joint venture, CTCI McDermott Integrated (CMI), with McDermott. The world-scale downstream module project sets a new record in contract value CTCI secures in the US hydrocarbon market, and is CTCI’s first project to fully utilise its modularisation technology in the US EPC market. The project owner is a joint venture between ExxonMobil and SABIC.
The MEG project is located in San Patricio County, Texas, which enjoys ready access to rail and deep water port facilities. With the existing infrastructure and proximity to raw materials, this has created a positive business climate to make good use of the shale gas development in the US and booming local petrochemical industry. GCGV acquired environmental permits in June 2019. The completion of the project, anticipated by 2022, is expected to bring production of 1.1MTA MEG annually to satisfy the growing demands for MEG.
CTCI has accumulated experience in the hydrocarbon business since 1979 and has executed high-end EPC projects in the petrochemical processing, chemical, and LNG markets around the world. “With this project, CTCI extends its service upward to front-end engineering design,” said John T Yu, group chairman of CTCI. CTCI leverages its equipment modularisation experience to that of the whole plant, a milestone for our modularisation technology. We are committed to providing comprehensive engineering services to our client, staying true to our brand spirit of being ‘The Most Reliable’.”
SABIC has provided project management services for its affiliate Saudi Kayan Furnace-10 and Olefin Debottlenecking Project (SKF-10 Project) contracting with CTCI. CTCI had completed Furnace-10 on 31 July 2017, and the olefin debottlenecking related work was completed on 15 December 2017, which includes improving of cooling water circulation system, adding an extraction tower system, and improving the performance for part of column. The annual output of ethylene will be augmented by up to 12.2%. SKF-10 Project is located in the Jubail Industrial City of Saudi Arabia.
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