Great News for Taiwan’s Ports

Premier Sean Chen yesterday directed the Ministry of Transportation and Communications (MOTC) to work with Taiwan International Ports Corporation (TIPC) in implementing a five-year plan to renovate commercial ports and harbors and coordinate cross-ministry efforts to contribute to this program.

The premier said this after hearing the MOTC’s briefing on the program, which he said is key to Taiwanese ports’ competitiveness and is expected to spur industries and create jobs.

As the program encompasses several major projects, such as land reclamation and development, industry development and urban renewal, the premier indicated it is vital for the TIPC, under the MOTC’s guidance, to learn from advanced countries’ major harbors in order to devise detailed measures for the program. He also said that by integrating resources from related government agencies and local governments, linking industry supply chains, and promoting urban renewal, the program will also bolster development in neighboring areas.

According to the MOTC, the program aims to help Taiwan’s commercial ports reach 18 million TEU (Twenty-foot equivalent unit ) in container transportation volume, create revenue of NT$30 billion (US$1 billion) and earnings of NT$10 billion (US$333.47 million), and raise passenger numbers to 1.3 million by 2016.

The TIPC will inject a total of NT$66 billion (US$2.2 billion) into the program over the next five years. Projects accounting for 87.3 percent or NT$57.6 billion (US$1.92 billion) of the TIPC’s fund have already kicked off; the rest are in the planning stage. These developments have already attracted CPC Corporation, China Steel Machinery Corporation and marine shipping providers as partners, who plan to spend a total of NT$56.8 billion (US$1.89 billion) on building new facilities there.

Premier Chen directed the MOTC to not only inform the public of the program but also explain to citizens the details of its implementation and the benefits it will bring.

[mappress]

Press Release, October 3, 2012