Taiwan’s CTCI makes US$240 million deal with India’s Adani

Huang led a delegation to participate in the 2018 Taiwan Expo in India on Sunday. (CNA photo)

A Taiwanese energy-related company called CTCI has just signed a US$240 million contract with an Indian company called Adani, to build natural gas receiving stations in Gujarat, India. That was the word from James Huang, the head of TAITRA, Taiwan’s trade council.

On Sunday, Huang led a delegation of 16 business leaders, 130 company representatives and 30 journalists to participate in the 2018 Taiwan Expo in India. This is the largest delegation to visit a New Southbound Policy country.

The stations will be built in the Mundra Economic Zone. The contract with Adani is the biggest contract ever signed with a New Southbound Policy country. That Taiwan government policy is tasked with strengthening ties with South Asia, Southeast Asia, Australia and New Zealand.

Huang said that Gujarat is a flagship area for petroleum companies. He has led delegations of Taiwanese petroleum industry leaders there four times since December, 2016.