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.
CHAOS: Iranians took to the streets playing celebratory music after reports of Khamenei’s death on Saturday, while mourners also gathered in Tehran yesterday Iranian Supreme Leader Ayatollah Ali Khamenei was killed in a major attack on Iran launched by Israel and the US, throwing the future of the Islamic republic into doubt and raising the risk of regional instability. Iranian state television and the state-run IRNA news agency announced the 86-year-old’s death early yesterday. US President Donald Trump said it gave Iranians their “greatest chance” to “take back” their country. The announcements came after a joint US and Israeli aerial bombardment that targeted Iranian military and governmental sites. Trump said the “heavy and pinpoint bombing” would continue through the week or as long
TRUST: The KMT said it respected the US’ timing and considerations, and hoped it would continue to honor its commitments to helping Taiwan bolster its defenses and deterrence US President Donald Trump is delaying a multibillion-dollar arms sale to Taiwan to ensure his visit to Beijing is successful, a New York Times report said. The weapons sales package has stalled in the US Department of State, the report said, citing US officials it did not identify. The White House has told agencies not to push forward ahead of Trump’s meeting with Chinese President Xi Jinping (習近平), it said. The two last month held a phone call to discuss trade and geopolitical flashpoints ahead of the summit. Xi raised the Taiwan issue and urged the US to handle arms sales to
State-run CPC Corp, Taiwan (CPC, 台灣中油) yesterday said that it had confirmed on Saturday night with its liquefied natural gas (LNG) and crude oil suppliers that shipments are proceeding as scheduled and that domestic supplies remain unaffected. The CPC yesterday announced the gasoline and diesel prices will rise by NT$0.2 and NT$0.4 per liter, respectively, starting Monday, citing Middle East tensions and blizzards in the eastern United States. CPC also iterated it has been reducing the proportion of crude oil imports from the Middle East and diversifying its supply sources in the past few years in response to geopolitical risks, expanding
Pro-democracy media tycoon Jimmy Lai’s (黎智英) fraud conviction and prison sentence were yesterday overturned by a Hong Kong court, in a surprise legal decision that comes soon after Lai was jailed for 20 years on a separate national security charge. Judges Jeremy Poon (潘兆初), Anthea Pang (彭寶琴) and Derek Pang (彭偉昌) said in the judgement that they allowed the appeal from Lai, and another defendant in the case, to proceed, as a lower court judge had “erred.” “The Court of Appeal gave them leave to appeal against their conviction, allowed their appeals, quashed the convictions and set aside the sentences,” the judges
RSS