Taiwan High Speed Rail Corp (THSRC) confirmed yesterday that it has secured a loan of NT$60 billion (US$1.875 billion) from three banks to further fund the construction and the operation of Taiwan's first bullet train system, a build-operate-transfer (BOT) project that has cost the nation NT$480 billion.
The loan will help cover the costs accrued due to the company's decision last year to postpone the launch of the bullet train as well as the expenditure on the construction.
It will be jointly provided by the Bank of Taiwan, the Chiao Tung Bank and the International Commercial Bank of China. The company has yet to sign the loan contract with any of the institutions.
"The amount that was made available should be able to help us continue the operation," said THSRC's Spokesman Arthur Chiang (
The announcement came after the bureau of high speed rail of the Ministry of Transportation and Communications (MOTC) hosted a successful test ride recently, with Legislative Speaker Wang Jin-pyng (王金平), MOTC minister Kuo Yao-chi (郭瑤琪) and THSRC's Chairwoman Nita Ing (殷琪) among the many dignitaries that were invited.
According to Kuo, the company was supposed to report the status of the loan at the test ride.
Meanwhile, the nation's first bullet train will initially only operate between Banciao in Taipei County and Tsoying (左營) in Kaohsiung County when the train officially comes into service at the end of October, according to the deputy director of the bureau of high speed rail Hsu Chun-yi (許俊逸), who made the comments earlier this week.
THSRC will start extending lines further north next month and will also begin installing the cables for traffic signals, he said.
Hsu, however, did not commit to a specific deadline as to when these constructions would be finished.
A story published by the Chinese-language Liberty Times (the Taipei Times' sister paper) yesterday reported that line construction in the Banciao-Taipei section faced serious challenges.
The underground tunnel in the section is narrower compared to others the company built, and the crews will have problems installing multiple power lines while maintaining a safe distance between each, it said, adding that the company has planned to fix the contract with the bureau and postpone the launch of the Taipei-Banciao section until January next year.
The company, however, was unwilling to confirm the statement and insisted yesterday that the official launch of the high speed rail by October remains its goal.
Temperatures in northern Taiwan are forecast to reach as high as 30°C today, as an ongoing northeasterly seasonal wind system weakens, the Central Weather Administration (CWA) said. CWA forecaster Tseng Chao-cheng (曾昭誠) said yesterday that with the seasonal wind system weakening, warmer easterly winds would boost the temperature today. Daytime temperatures in northern Taiwan and Yilan County are expected to range from 28°C to 30°C today, up about 3°C from yesterday, Tseng said. According to the CWA, temperature highs in central and southern Taiwan could stay stable. However, the weather is expected to turn cooler starting tonight as the northeasterly wind system strengthens again
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COOLING OFF: Temperatures are expected to fall to lows of about 20°C on Sunday and possibly 18°C to 19°C next week, following a wave of northeasterly winds on Friday The Central Weather Administration (CWA) on Sunday forecast more rain and cooler temperatures for northern Taiwan this week, with the mercury dropping to lows of 18°C, as another wave of northeasterly winds sweeps across the country. The current northeasterly winds would continue to affect Taiwan through today, with precipitation peaking today, bringing increased rainfall to windward areas, CWA forecaster Liu Pei-teng (劉沛滕) said. The weather system would weaken slightly tomorrow before another, stronger wave arrives on Friday, lasting into next week, Liu said. From yesterday to today, northern Taiwan can expect cool, wet weather, with lows of 22°C to 23°C in most areas,
Taiwan sweltered through its hottest October on record, the Central Weather Administration (CWA) said yesterday, the latest in a string of global temperature records. The main island endured its highest average temperature since 1950, CWA forecaster Liu Pei-teng said. Temperatures the world over have soared in recent years as human-induced climate change contributes to ever more erratic weather patterns. Taiwan’s average temperature was 27.381°C as of Thursday, Liu said. Liu said the average could slip 0.1°C by the end of yesterday, but it would still be higher than the previous record of 27.009°C in 2016. "The temperature only started lowering around Oct. 18 or 19
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