The Taiwan High Speed Rail Corp (THSRC, 台灣高鐵) said yesterday it will pay Eurotrain US$65 million in compensation for dumping the consortium and choosing a Japanese consortium to build Taiwan's high-speed rail system. \nTHSRC posted the settlement agreement on the Taiwan Stock Market online bulletin board. \n"Following arbitration by an international arbitration court, THSRC agrees to pay US$65 million to Eurotrain, which -- plus interest -- totals US$89 million," the document said. \nTHSRC's press office said the arbitration was made on March 5 by an international arbitration court in Singapore. \nCompared with an arbitration ruled by the International Chamber of Commerce (ICC) early this year, the new settlement saves THSRC US$24 million, according to THSRC. Eurotrain filed for arbitration with the ICC in 2001. \nThe ICC issued an arbitration award on March 15, 2004, wherein THSRC was ordered to pay US$73.04 million in damages and interest to Eurotrain. \nEurotrain -- a consortium led by Germany's Siemens AG and France's Alsthom -- claims THSRC gave it priority negotiating rights for building Taiwan's first high-speed rail in 1997, but awarded the US$14-billion-contract to a Japanese consortium in 1999. But THSRC denied there was any contract. \nThe 345km railway linking Taipei to Kaohsiung is scheduled to start operating in October next year. \nThere were rumors that THSRC favored Japan's Shinkansen system over Eurotrain because former president Lee Teng-hui (李登輝) wanted to forge closer ties with Japan, but THSRC denied there were political considerations.
UNSTABLE? Downplaying geopolitical concerns, Mark Liu said that Taiwan can help usher in a bright, new era for the chip industry with its tech and manufacturing skills There are probably not many people who believe that Taiwan is unstable because of geopolitical factors, Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) chairman Mark Liu (劉德音) said yesterday in Taipei in response to comments by Intel’s top executive. Intel CEO Pat Gelsinger on Wednesday told the Fortune Brainstorm Tech summit in California that the US government should support a sustainable semiconductor supply chain in the US, in part because “Taiwan is not a stable place.” With China sending 27 military warplanes into Taiwan’s air defense identification zone on Sunday, Gelsinger asked: Does that “make you more comfortable or less if you’re now
Toyota Motor Corp is to launch an all-electric small sedan in China late next year, having turned to local partner BYD Co (比亞迪) for key technology to finally make an affordable yet roomy runaround, four sources said. Two of the four people with knowledge of the matter described the car as an electric holy grail for Toyota, which has struggled for years to come up with a small electric vehicle (EV) that is competitive on cost in China and does not compromise on comfort. The sources said the breakthrough was chiefly down to BYD’s less bulky lithium-iron-phosphate (LFP) Blade batteries and its
Danish wind turbine maker Vestas A/S yesterday said it has invested NT$1 billion (US$36.07 million) in its local supply chain to supply components for its 9.5 megawatt (MW) V174 turbine. The project has helped created 1,500 jobs, including 150 jobs by Vestas itself, Vestas country manager Alex Robertson said. The turbine is to be used in four offshore wind farm projects for a total of 123 wind turbine generators, or 1.2 gigawatts (GW) of total capacity, he said. “This is localization like I’ve never seen before,” Robertson told a media briefing in Taipei. Vestas highlighted 10 Taiwanese supply chain partners that are
Contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and integrated circuit designer MediaTek Inc (聯發科) are optimistic about the “metaverse” concept, expecting it to create major opportunities for the semiconductor industry. At a tech forum last week to commemorate former finance minister K.T. Lee (李國鼎), who has been dubbed the father of Taiwan’s economic miracle and who helped build Taiwan’s semiconductor sector in the second half of the 20th century, TSMC chairman Mark Liu (劉德音) said he expects the metaverse to grow quickly in the next decade. Over the next 10 years, data computing power and transmission speeds are forecast to increase