CTCI Corporation Receives EPC Project Award from Ras Laffan Petrochemicals to Build One of the World's Largest Ethylene Plants

TAIPEI,Jan. 9,2023 -- CTCI Corporation,one of the world's leading engineering,procurement,and construction (EPC) companies announced today that it was awarded a portion of the Ras Laffan Petrochemicals Project (RLPP),which includes the ethylene unit and its utilities. This project is located in Ras Laffan Industrial City,Qatar. Once completed,the ethylene plant will be one of the largest in the world by capacity. The project consists of the ethylene unit and two high-density polyethylene units. The total cost of the project is $6 billion and startup is anticipated in late 2026. CTCI is executing this project with Samsung Engineering as the "Samsung Engineering CTCI Joint Venture" (SCJV).

The client,Ras Laffan Petrochemicals (RLP),is a joint venture between QatarEnergy and Chevron Phillips Chemical. The companies are building petrochemical projects in Qatar and the United States. Michael Yang,Chairman of CTCI Corporation,said,"We appreciate the trust that Ras Laffan Petrochemicals has placed in us through this monumental opportunity for our team. We will utilize quality engineering and safety management to complete the task on time and up to standards."

The Ras Laffan Petrochemicals Project consists of two packages. The SCJV was awarded Package 1,which is to build a 2.08 million tons ethylene production unit,utilities,and office facilities. Samsung Engineering will be in charge of engineering for the major ethylene production facilities with scope of work including C2 hydrogenation,hydrogen purification unit,and three main compressors.CTCI Corporation will be in charge of engineering for the furnaces and utility infrastructure,including steam/condensate collecting,boiler feed water,etc. Procurement and construction work will be carried out jointly by the SCJV. The ethylene produced will be delivered as feedstock to Package 2,which encompasses two high-density polyethylene units.

For over four decades,CTCI Corporation has completed numerous challenging mega-projects in the refinery,petrochemical,LNG,and chemical sectors. Notable successes in recent years include: completing the world's largest onshore modularized project for Gulf Coast Growth Ventures to produce 1.1 million tons mono-ethylene glycol annually in the US; and setting an all-time high record of 77 million man-hours without a lost-time injury in the Liwa Plastics Industries Complex petrochemical EPC project in Oman. CTCI's other successes in Qatar include completing the furnace and ethylene tank project,as well as the Laffan Condensate Refinery expansion project.

Thanks to the extensive experience in petrochemical facility engineering,CTCI Corporation has won the trust of RLP. The SCJV plans to provide exceptional schedule management to the client by applying innovative strategies such as modularization,automation,as well as purchasing key equipment and materials before the engineering process is finalized. The contract award is another major boost to CTCI's global presence and operations.

About CTCI http://www.ctci.com

CTCI (TWSE: 9933,TPEx: 5209,TPEx: 6803) is a global engineering services provider that offers a comprehensive range of services,products,and solutions. Since its founding in 1979,CTCI has strived to deliver the world's most reliable engineering,fabrication,construction,commissioning and project management services. Headquartered in Taipei,Taiwan,CTCI serves the refinery,LNG receiving terminal,power,industrial,environmental,transportation,and advanced technology facility markets. The company is Taiwan's leading EPC services provider,with about 7,000 employees in around 40 operation bases spanning across more than 10 countries. It is a member of the Dow Jones Sustainability™ Emerging Markets Index.

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