Plans to construct high-speed rail stations in Miaoli, Changhwa and Yunlin are proceeding according to schedule, the Ministry of Transportation and Communications yesterday said yesterday, adding that the plans were finalized in a contract signed by the Taiwan High Speed Rail Corp (THSRC) and the ministry.
The project came under media scrutiny when Premier Wu Den-yih (吳敦義) asked the ministry to communicate with THSRC shareholders, saying that some of them had opposed the construction of these stations.
Wu said the THSRC faced severe financial pressure two years ago and was able to continue operations only because the government helped it secure bank loans. The government will not allow these shareholders to oppose the project, Wu said, adding that they would make enemies of passengers in Miaoli, Changhwa and Yunlin if they continued to resist the plan.
Former THSRC vice president of public affairs Arthur Chiang (江金山), a THSRC board member, published a half-page advertisement in local newspapers yesterday asking Wu to “calm down,” saying there was no such thing as shareholder “opposition to the project.”
However, he asked why such a major project could not be discussed or put to a vote in a shareholders’ meeting.
“If the government demanded that THSRC accept the ‘script’ it has produced to garner more votes without any negotiations, if the three stations turned out to be investments from which the company cannot generate any return when the contract expires, can’t the shareholders ask questions? Can’t the government and THSRC work together to stipulate a construction plan that benefits society, the government and THSRC shareholders?” Chiang asked.
In response, Bureau of High Speed Rail Director-General Chu Shu (朱旭) yesterday said the project was listed as an item that must be executed by THSRC in its contract with the government.
The fund needed to build these three stations was already included the credit loans to THSRC when the government helped the company restructured its debs in 2009, which topped NT$7.55 billion, he said.
Chu said the company has submitted an execution guideline in July last year, which stated the construction would begin July next year and complete in 2015.
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