The Ministry of Economic Affairs yesterday approved applications by 10 companies to invest a total of NT$10.9 billion (US$359.4 million) as part of a government program to encourage investments by small and medium-sized enterprises.
The investments bring the total investments as part of the program to NT$72.6 billion, it said.
Steelmaker Chien Shun Steel Co Ltd (建順煉鋼) is to invest the largest sum at NT$6.8 billion to acquire smart steel processing equipment at its plant in Miaoli County’s Tongsiao Township (通霄).
The investments are to help it adapt to an ever-changing market environment, the ministry said.
Chien Shun also plans to set up a wastewater treatment facility, as well as a waste gas recycling center, it said, adding that the company would offer 126 job opportunities.
Food ingredient manufacturer Mingtal Chemical Co Ltd (明台化工) plans to invest more than NT$1 billion to establish an automated production plant to expand its presence in Asian markets, while Rong Shin Industrial Co Ltd (榮興工業), which makes engine silencers for lawn mowers, plans to invest NT$1.1 billion to relocate part of its production from China as it continues to target the US market.
Traditional manufacturers — Jih Shing Enterprise Co Ltd (記欣企業), Ourad Safety Co Ltd (得森科技), Sam Metal Co Ltd (山畝金屬), LeadTech International Co Ltd (禾新國際), Auto Skill Industrial Co Ltd (昱鋒實業), Je-Hung Co Ltd (傑晃公司) and an unnamed company — that make products from industrial safety masks to precision stamping dies are to invest between NT$50 million and NT$400 million each.
In related news, the ministry on Tuesday approved KMC Kuei Meng International Inc’s (桂盟國際) application through a separate program to invest NT$800 million as it seeks to expand local production capacity.
KMC, the world’s largest bicycle chain maker, made the investment in response to the effects of the US-China trade dispute on the bicycle industry, the ministry said, adding that the company would recruit 30 local professionals.
It also approved First International Computer Group (大眾集團) subsidiary Ubiqconn Technology Inc’s (攸泰科技) application to invest NT$500 million to expand its plant in New Taipei City’s Zhonghe District (中和)to lower the effects of US tariffs on Chinese production.
Through a third government program, auto parts supplier Koso Co Ltd (統亞電子) and Hiwin Group’s (上銀集團) Matrix Precision Co Ltd (邁萃斯精密) are to invest NT$500 million and NT$3 billion respectively to set up smart manufacturing facilities.
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