The Kaohsiung City Government and Taiwan International Ports Corp. established March 29 a joint venture and strategic alliance with six state-owned enterprises to coordinate regeneration projects for the Port of Kaohsiung and surrounding areas.
Premier Lin Chuan said at the announcement ceremony for the ventures that the move will help expedite the revitalization of old areas of the port while serving as a reference for the development of other harbor cities in Taiwan.
Under the joint venture, the local government and TIPC will collaborate on transforming old sections of the port and promoting the Asia’s New Bay Area, a municipal project to rejuvenate 590 hectares of land along the city’s waterfront and develop the digital, cultural and creative, cruise and tourism industries.
Launched in 2011, the first stage of the Asia’s New Bay Area comprises five major construction projects that are either underway or completed, the Kaohsiung Exhibition Center, Kaohsiung Port Terminal and Cruise Service Center, Kaohsiung Maritime Cultural and Pop Music Center, Kaohsiung Main Public Library and a light rail system.
The strategic alliance will coordinate on the selection and implementation of construction projects in a 135-hectare zone slated for the second stage of the Asia’s New Bay Area. In addition to the city government and TIPC, it comprises Bank of Taiwan, petrochemical firm CPC Corporation, Taiwan, Taiwan Fertilizer Co., Taiwan Power Co., Taiwan Sugar Corp. and Taiwan Tobacco and Liquor Corp.
According to the city government, the two partnerships are expected to generate 50,000 job opportunities and NT$100 billion (US$3.3 billion) in economic output within the next 10 years.
Meanwhile, Kaohsiung Mayor Chen Chu said that the strategic partnerships will streamline urban regeneration projects while ensuring the port maintains its position as one of the region’s foremost transportation hubs. They will also help foster economic development in southern Taiwan by attracting private sector investment to the region, she added.
One of Taiwan’s five major ports, the Port of Kaohsiung is directly overseen by TIPC under the Ministry of Transportation and Communications. The facility led the nation in cargo throughput volume in 2015 with 110.90 million metric tons, or 46.08 percent of the total, according to TIPC statistics. (CPY-E)
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