CTCI Corp., a leading Taiwan-based engineering services provider, has won a tender for a liquefied natural gas terminal project in India worth US$240 million held by Indian conglomerate the Adani Group. Adani confirmed on Monday that CTCI won the bid and signed an agreement on April 24 with Adani Energy, a unit of the Indian conglomerate, for the project. It was the largest contract secured by a single Taiwanese company in the 18 countries targeted by Taiwan’s New Southbound Policy since it was launched in May 2016.
Policy is aimed at forging closer economic ties with the 10-member states of the Association of Southeast Asian Nations (ASEAN), as well as with India, Pakistan, Bangladesh, Nepal, Sri Lanka, Bhutan, Australia and New Zealand, to reduce economic dependence on China. The LNG receiving terminal project will be located in the Dhamra Port in Odisha, a state in eastern India, and will have an annual capacity of 5 million tons of LNG, according to the Adani Group.