Tue, Mar 26, 2013 - Page 3 News List

Academia Sinica, BHSR make deal on Tainan land

By Shelley Shan  /  Staff reporter

The Bureau of High Speed Rail (BHSR) yesterday said it has reached an initial agreement with Academia Sinica that the research institution’s southern branch would be built on the industrial zone of the high-speed rail station in Greater Tainan.

An agreement was reached on Friday in which Academia Sinica would purchase a property of about 7.3 hectares from the bureau.

The bureau agreed to handle the deal as a special case. It said that the property would be sold to the Academic Sinica at its actual development costs.

The bureau said that Academia Sinica could choose a 30-year amortization plan to pay back the principle and the interest, adding that it could also make a NT$500 million (US$16.77 million) down payment first and amortize the remaining funds.

The research institution could also try to secure loans from financial institutions and repay them through amortization plans, the bureau said.

Academia Sinica would need to submit its development plan for the property after the method of payment is decided. The bureau will first give it to the Ministry of Transportation and Communications for approval, which will then turn it over to the Executive Yuan for final approval.

A story in the Chinese-language United Daily News yesterday said the plan to build a southern branch for the national academy was proposed by Acadmia Sinica President Wong Chi-huey (翁啟惠) in 2008.

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