The Council for Economic Planning and Development yesterday approved a two-stage plan by the Ministry of Transportation and Communications to build a 13.99km light-rail transit system by the end of 2023 to provide transportation for people living in Tamhai New Town (淡海新市鎮) in New Taipei City’s (新北市) Tamsui District.
“The system is expected to cost NT$15.31 billion (US$525.98 million) and will generate NT$14.16 billion in revenue 30 years after its completion,” said Chung Wen-li (鍾維力), the deputy chief engineer of the ministry’s High Speed Rail Bureau, at a press conference.
Chung added that it is still too early to tell how many jobs the project would create.
The first phase of construction, which will begin this year and is to be completed by 2018, includes 14 stations along the Green Mountain Route and the part of the Blue Sea Route that links the Green Mountain Route to Tamsui Fisherman’s Wharf, the council said.
The second phase of construction is to include six stations along the Blue Sea Route, linking Tamsui Mass Rapid Transit Station to the wharf.
The population of Tamhai New Town is currently 16,000 and the bureau estimated that it would grow to 120,000 by 2041. The system is designed to accommodate the projection of a 120,000-strong population.
The central government is to provide NT$1.67 billion to fund the project, with the Construction and Planning Agency to provide NT$7.09 billion and the New Taipei City Government to provide NT$6.55 billion, Chung said.
Handset camera lens maker Largan Precision Co (大立光) on Sunday reported a 6.71 percent year-on-year decline in revenue for the third quarter, despite revenue last month hitting the highest level in 11 months. Third-quarter revenue was NT$17.68 billion (US$581.2 million), compared with NT$18.95 billion a year earlier, the company said in a statement. The figure was in line with Yuanta Securities Investment Consulting Co’s (元大投顧) forecast of NT$17.9 billion, but missed the market consensus estimate of NT$18.97 billion. The third-quarter revenue was a 51.44 percent increase from NT$11.67 billion in the second quarter, as the quarter is usually the peak
Taiwan’s foreign exchange reserves hit a record high at the end of last month, surpassing the US$600 billion mark for the first time, the central bank said yesterday. Last month, the country’s foreign exchange reserves rose US$5.51 billion from a month earlier to reach US$602.94 billion due to an increase in returns from the central bank’s portfolio management, the movement of other foreign currencies in the portfolio against the US dollar and the bank’s efforts to smooth the volatility of the New Taiwan dollar. Department of Foreign Exchange Director-General Eugene Tsai (蔡炯民)said a rate cut cycle launched by the US Federal Reserve
The US government on Wednesday sanctioned more than two dozen companies in China, Turkey and the United Arab Emirates, including offshoots of a US chip firm, accusing the businesses of providing illicit support to Iran’s military or proxies. The US Department of Commerce included two subsidiaries of US-based chip distributor Arrow Electronics Inc (艾睿電子) on its so-called entity list published on the federal register for facilitating purchases by Iran’s proxies of US tech. Arrow spokesman John Hourigan said that the subsidiaries have been operating in full compliance with US export control regulations and his company is discussing with the US Bureau of
Pegatron Corp (和碩), a key assembler of Apple Inc’s iPhones, on Thursday reported a 12.3 percent year-on-year decline in revenue for last quarter to NT$257.86 billion (US$8.44 billion), but it expects revenue to improve in the second half on traditional holiday demand. The fourth quarter is usually the peak season for its communications products, a company official said on condition of anonymity. As Apple released its new iPhone 17 series early last month, sales in the communications segment rose sequentially last month, the official said. Shipments to Apple have been stable and in line with earlier expectations, they said. Pegatron shipped 2.4 million notebook
RSS