An international developer bidding to build a casino resort on Matsu yesterday said it has budgeted US$2.5 billion to construct supporting infrastructure.
This will remove the biggest obstacle facing Matsu’s development: a lack of transportation infrastructure, Weidner Resorts chairman and CEO William Weidner said.
The money would be used mainly to upgrade Beigan Airport so that it can handle larger aircraft such as Airbus SAS’ A320s and Boeing Co’s 747s, Weidner said.
Photo: Tsai Wei-chi, Taipei Times
A bridge connecting the Matsu chain’s Beigan and Nangan islands, a ferry harbor and a yacht terminal would also be built, he said.
“[The project] will develop Matsu’s infrastructure and help connect it to the rest of the world,” Weidner said.
He said that the US$2.5 billion, which is part of the US$8 billion in funds for the entire project, came from Bank of America, Deutsche Bank, JPMorgan and Credit Suisse.
Weidner said the resort could generate 70,000 job opportunities.
Matsu County residents approved a referendum in July last year allowing casinos to be built on the island chain.
However, such projects cannot proceed until a bill governing the operation of casinos is passed by the legislature.
The Cabinet is currently working on drafting legislation toward that end.
UNSTABLE? Downplaying geopolitical concerns, Mark Liu said that Taiwan can help usher in a bright, new era for the chip industry with its tech and manufacturing skills There are probably not many people who believe that Taiwan is unstable because of geopolitical factors, Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) chairman Mark Liu (劉德音) said yesterday in Taipei in response to comments by Intel’s top executive. Intel CEO Pat Gelsinger on Wednesday told the Fortune Brainstorm Tech summit in California that the US government should support a sustainable semiconductor supply chain in the US, in part because “Taiwan is not a stable place.” With China sending 27 military warplanes into Taiwan’s air defense identification zone on Sunday, Gelsinger asked: Does that “make you more comfortable or less if you’re now
‘OUT IN FRONT’: The new investment is part of MediaTek’s bid to expand revenue by 15 percent over the next three years from an estimated US$17 billion this year MediaTek Inc (聯發科) is to continue investing in the development of low-power technologies to maintain its leading position in the industry over the next 10 years, the Hsinchu-based chip designer said yesterday. This year, it would allocate US$3.3 billion to the research and development of technologies related to high-performance computing, low power and advanced chip packaging, MediaTek said. The investment is part of the chip designer’s efforts to enhance its technological capabilities and boost revenue. MediaTek aims to expand revenue by about 15 percent over the next three years from an estimated US$17 billion this year. “We are definitely out in front of
PharmaEssentia Corp (藥華醫藥) shares have jumped 80.56 percent since the company obtained a US polycythemia vera (PV) drug license for its new interferon drug Besremi (ropeginterferon alfa-2b-njft) on Nov. 12. Shares on Friday closed at NT$195 in Taipei trading, up from the stock’s closing price of NT$108 on Nov. 12. PV is a rare, chronic and life-threatening blood cancer linked to a stem cell mutation in the bone marrow that results in an overproduction of blood cells and places sufferers at risk of having a blood clot, stroke or heart attack. PharmaEssentia is preparing to make Besremi available in the US in the
Toyota Motor Corp is to launch an all-electric small sedan in China late next year, having turned to local partner BYD Co (比亞迪) for key technology to finally make an affordable yet roomy runaround, four sources said. Two of the four people with knowledge of the matter described the car as an electric holy grail for Toyota, which has struggled for years to come up with a small electric vehicle (EV) that is competitive on cost in China and does not compromise on comfort. The sources said the breakthrough was chiefly down to BYD’s less bulky lithium-iron-phosphate (LFP) Blade batteries and its
RSS