INVESTORS UPDATE:A joint venture of the company’s Beijing branch and the US’ Chemtex International is building a plant to produce PTA and PET resins in Russia
Taipei Times
Date: Sep 27, 2016
By: Kuo Chia-erh / Staff reporter
CTCI Corp (中鼎工程) is expanding its oil refinery business in Russia, company spokesperson Hsiao Ming-cheng (蕭明證) told an investors’ conference in Taipei yesterday.
Revenues from Taiwan make up more than half of the total revenues of the nation’s largest construction and power engineering service provider, while sales from the Middle East and Southeast Asia account for 22 percent and 19 percent respectively.
“We see some business opportunities in the Commonwealth of Independent States and plan to enter the market by cooperating with global companies,” Hsiao said.
The company’s Beijing branch formed a joint venture with the US-based chemical company Chemtex International Inc, which last month signed an agreement to complete the basic design for a purified terephthalic acid (PTA) and polyethylene terephthalate (PET) resin plant to be built in Russia. [FULL STORY]