NEW FOCUS:To avoid repercussions from the global oil and petrochemical downturn due to a glut, CTCI plans to explore new ‘green’ business options
Date: Oct 05, 2015
By: Ted Chen / Staff reporter
CTCI Corp (中鼎工程), which builds refinery and power plant facilities, said that it is seeking new business opportunities in “green” energy and pollution reduction projects as demand from refinery clients weakens.
“Since last year, the battle between OPEC and US oil shale producers has led to a glut, forcing prices down amid waning demand from emerging markets, and we have been preparing for this tremendous shakeup,” CTCI spokesperson Hsiao Ming-cheng (蕭明證) told an investors conference on Wednesday.
The company is to bid for air pollution reduction contracts at power plants in Taiwan, Vietnam and Malaysia before the end of the year, Hsiao said. [FULL STORY]