Tue, Aug 16, 2011 - Page 11 News List

Private investment up by 10% so far this year: MOEA

By Jason Tan  /  Staff Reporter, with CNA

The Ministry of Economic Affairs (MOEA) yesterday said private sector investment totaled NT$719 billion (US$24.9 billion) for the January-to-July period, up 10.68 percent from the same period last year.

The figure hit 65.36 percent of the ministry’s whole-year target of NT$1.1 trillion.

The ministry said the major investors were the electronics and metal machinery sectors, which invested NT$311.6 billion and NT$172.9 billion respectively. The petrochemical sector was third, with investment of NT$161.8 billion.

The ministry said China Steel Corp (CSC, 中鋼), the nation’s largest integrated steelmaker, is planning to invest NT$14 billion to build a new production line for motor-use electrical sheet steel in Greater Kaohsiung.

Chiu Chiou-hui (邱求慧), head of the Industrial Development Bureau’s Metal and Mechanical Division, said CSC initiated the investment project in anticipation of a surge in the global market for electric-powered vehicles and wind power.

Chiu said the planned production line would produce 150,000 tonnes to 200,000 tonnes of electrical sheet steel a year. Construction of the new factory, which is expected to create more than 1,000 jobs, is scheduled to be completed in 2013, he said.

Chiu said investment in the metal industry has increased this year. In the first seven months of the year, 161 companies launched investment projects in the sector, with the total accumulated value reaching NT$82.4 billion, marking year-on-year growth of 8.4 percent, he added.

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