Not a single investor has expressed an interest in developing the old port zone at the Port of Kaohsiung, one of the locations considered by the Kaohsiung City Government to implement its “Love Ferris wheel” and shopping mall project, Taiwan International Ports Corp (TIPC) said yesterday.
The project was one of Kaohsiung Mayor Han Kuo-yu’s (韓國瑜) campaign promises as he ran for mayor last year.
It would be built by the Love River (愛河) and feature cars that double as “motel rooms,” he said at the time, adding that it would cost more than NT$10 billion (US$329.85 million at the current exchange rate) and create 3,000 jobs.
Photo: Chang Chung-yi, Taipei Times
However, three of the four locations the city government yesterday offered as options to build the Ferris wheel are not along the river. They are piers Nos. 4 to 8; piers Nos. 16 to 18; and pier No. 21, also known as the old port zone.
The ports company issued a statement after the city accused it of not cooperating in implementing the project and threatened to raise the percentage of funds it would receive from the development of Pier No. 21 from 42 to 52 percent.
“We have been welcoming carriers interested in offering passenger shipping services at the Port of Kaohsiung, as well as tourism and leisure business developers. However, no investor has contacted us to talk about the development plan. We will seek to communicate with the Kaohsiung City Government on this matter,” TIPC said.
The agreement it signed with the city in June states that 42 percent of the funds generated from the development of the old port zone would be given to the city, it said.
As such, the company, as well as the government agency supervising the land development plan, are carefully reviewing the plan and gauging the potential benefits that could be created from it, TIPC said.
This is done to ensure that government properties will be used in the most efficient way possible, it added.
The land development firm that it has established with the city is designed to address the issues related to the percentage of funds that is to be received by the city, TIPC said.
Should the city demand that the percentage be raised from 42 to 52 percent, the land development firm would have no option but to allow TIPC to enforce the development of the old port zone on its own, it said.
“Raising the percentage would only increase the costs for the investors, which in turn would lower the financial benefits,” TIPC said, adding that this would alienate investors.
The land development firm has already proposed plans to attract investors, and interested parties are welcome to talk to it and present their proposals, TIPC said.
“If the management of the land development firm considers any of the proposals to be feasible, it would apply for a permit from the port company to execute the development plan,” it added.
The Taipei Mass Rapid Transit (MRT) Wanda-Zhonghe Line is 81.7 percent complete, with public opening targeted for the end of 2027, New Taipei City Mayor Hou You-yi (侯友宜) said today. Surrounding roads are to be open to the public by the end of next year, Hou said during an inspection of construction progress. The 9.5km line, featuring nine underground stations and one depot, is expected to connect Chiang Kai-shek Memorial Hall Station to Chukuang Station in New Taipei City’s Jhonghe District (中和). All 18 tunnels for the line are complete, while the main structures of the stations and depot are mostly finished, he
The first global hotel Keys Selection by the Michelin Guide includes four hotels in Taiwan, Michelin announced yesterday. All four received the “Michelin One Key,” indicating guests are to experience a “very special stay” at any of the locations as the establishments are “a true gem with personality. Service always goes the extra mile, and the hotel provides much more than others in its price range.” Of the four hotels, three are located in Taipei and one in Taichung. In Taipei, the One Key accolades were awarded to the Capella Taipei, Kimpton Da An Taipei and Mandarin Oriental Taipei. Capella Taipei was described by
Minister of Economic Affairs Kung Ming-hsin (龔明鑫) yesterday said that private-sector refiners are willing to stop buying Russian naphtha should the EU ask them to, after a group of non-governmental organizations, including the Centre for Research on Energy and Clean Air (CREA), criticized the nation’s continued business with the country. While Taiwan joined the US and its Western allies in putting broad sanctions on Russia after it invaded Ukraine in 2022, it did not explicitly ban imports of naphtha, a major hard-currency earner for Russia. While state-owned firms stopped importing Russian oil in 2023, there is no restriction on private companies to
President William Lai (賴清德) is expected to announce a new advanced “all-domain” air defense system to better defend against China when he gives his keynote national day speech today, four sources familiar with the matter said. Taiwan is ramping up defense spending and modernizing its armed forces, but faces a China that has a far larger military and is adding its own advanced new weapons such as stealth fighter jets, aircraft carriers and a huge array of missiles. Lai is expected to announce the air defense system dubbed “Taiwan Dome” in his speech this morning, one of the sources said. The system
RSS