The Legislative Yuan's transportation committee will question Ministry of Transportation and Communications officials today on the Taiwan High Speed Rail Corp's (THSRC) plans to secure an additional bank loan of NT$65.5 billion (US$2.03 billion).
According to a report from the ministry, the THSRC requires another NT$40 billion in capital before the High Speed Rail becomes operational in October. An additional NT$25.5 billion is needed to cover losses expected to be incurred during the initial stages of operations, the ministry said.
The report indicated that the THSRC would use the value of the land around its stations and other assets as collateral.
While the report indicated that banks are still in the process of evaluating the THSRC's loan application, it reiterated that the government would not "invest in" and "serve as guarantor" for the build-operate-transfer project to ensure that the public interest would not be compromised.
Vice Minister of Transportation and Communications Ho Nuan-hsuan (
Yesterday, legislators criticized Minister of Transportation and Communications Kuo Yao-chi (
Kuo was dispatched along with Minister of Economic Affairs Morgan Huang (
Responding to legislators' questions about why the THSRC was hiring train drivers from foreign countries other than Japan, the source of its trains, the company's deputy general manager Lin Peng-liang (
"Nationality is not the factor we consider when we hire drivers," Lin said. "[Overseas drivers] will be allowed to operate the trains once they have adjusted to local conditions."
Lin added that the company had finished compiling its drivers' manuals. The manuals would be updated once the drivers had begun test-driving the new trains, he said.
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