The government yesterday approved a total of US$157.4 million in investments in China for July, paving the way for plans by Taiwan's biggest airlines to jointly build a cargo terminal at the Gaoqi International Airport (
The Investment Commission under the Ministry of Economic Affairs approved investments amounting to US$3.4 million each by EVA Airways Corp (
Investment of US$3.4 million in the project by China Airlines Co Ltd (
The small scale of the individual investments ensured that the total dollar amount for each company came in well under the US$50 million cap the government places on single projects in China.
Once the cargo terminal is completed it will handle the distribution of heavy container cargo and provide warehousing facilities at the Gaoqi airport, which is one of China's largest.
Xiamen's Gaoqi International Airport opened in 1996, hosts 22 airlines, serves 52 domestic and international destinations such as Singapore, Penang, Kuala Lumpur, Manila and Jakarta, with more than 380 flights from Xiamen per week.
The investment, although small, is seen as an important step for Taiwan carriers that wish to gain a foothold in China's lucrative cargo market, which is expected to grow dramatically after the country enters the WTO.
Among other significant investments approved by the Investment Commission yesterday were plans tendered by Nanya Plastics Corp (
Compeq Manufacturing Co Ltd (
A further US$5.4 million was approved for investment by Compeq in a copper plating firm, also in Guangzhou.
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Taiwan is open to joining a global liquefied natural gas (LNG) program if one is created, but on the condition that countries provide delivery even in a scenario where there is a conflict with China, an energy department official said yesterday. While Taiwan’s priority is to have enough LNG at home, the nation is open to exploring potential strategic reserves in other countries such as Japan or South Korea, Energy Administration Deputy Director-General Chen Chung-hsien (陳崇憲) said. While the LNG market does not have a global reserve for emergencies like that of oil, the concept has been raised a few times —
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