US chipmaker Nvidia Corp has confirmed its Taiwan headquarters would be built on Beitou Shilin Technology Park’s (北投士林科技園區) T17 and T18 plots in Taipei, Taipei Mayor Chiang Wan-an (蔣萬安) told a meeting of the Taipei City Council yesterday, adding that the city government would fast-track administrative procedures to help the company establish its presence as soon as possible.
A videoconference earlier in the day with Nvidia produced three conclusions, Chiang said at the meeting, which discussed the special municipality’s policy plans and budget for next year.
The conclusions were that the company’s headquarters would be built on the 3.89 hectares of the combined T17 and T18 plots; Nvidia hopes the city would promptly terminate its contract with Shin Kong Life Insurance Co (新光人壽), which holds development rights for the land; and the city would accelerate administrative steps to facilitate the investment, Chiang said.
Photo: Tien Yu-hua, Taipei Times
Deputy Taipei Mayor Lee Shu-chuan (李四川) told reporters before the meeting that Shin Kong Life is expected to submit cost estimates this week and finalize a termination deal with the city government by next week.
The plan was the result of negotiations between Nvidia, the city government and Shin Kong Life, Chiang said.
Once the insurer and the city reach an agreement to terminate their contract, the city government would provide a cleared site and grant Nvidia special surface rights under a project-based model, he said.
Photo: CNA
The termination agreement could be completed by the end of next month, with a formal contract between the city and Nvidia expected by the middle of next year, he said.
Chinese Nationalist Party (KMT) Taipei City Councilor Yang Chih-tou (楊植斗) said that the announcement might improve Shin Kong Life’s bargaining position.
KMT Taipei City Councilor Kuo Chao-yen (郭昭巖) said that the compensation for terminating the contract — NT$2.99 billion (US$97.62 million) in land-use rights fees, NT$279 million in rent and NT$365 million in performance bonds, totaling NT$3.63 billion — should be reviewed by independent third party lawyers and accountants to ensure fairness.
Nvidia founder and chief executive officer Jensen Huang (黃仁勳) in May said that his company would establish its new Taiwan headquarters in “Beitou Shilin,” with the facility to be named Nvidia Constellation.
Once the contract with Shin Kong Life is terminated by mutual agreement, the municipality plans to invoke special land-right provisions under the Land Expropriation Act (土地徵收條例) to help Nvidia secure the site, a process estimated to take one to two months, the city government said.
All administrative procedures — including urban planning, land-use adjustments and infrastructure coordination — would be accelerated to facilitate Nvidia’s move into the site, city officials said.
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