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Taiwan: NT$700m required for private entities to build new airports: CAA

Taiwan: NT$700m required for private entities to build new airports: CAA

Private entities will need to have at least NT$700 million (US$22 million) in capital if they want to construct and operate new airports in Taiwan, the Civil Aeronautics Administration (CAA) said today.

The required capital will differ in accordance with the annual passenger capacities at the new airports, the CAA said as it passed a draft plan under the Civil Aviation Act.

For passenger throughput of over 10 million people per year, the minimum capital will be NT$46 billion, while for under 750,000 people, the minimum capital will be NT$700 million.

The application process will be subject to close scrutiny, since the project is a matter of public interest, said CAA Director-General Yin Chen-pong.

According to the plan, interested private enterprises will need to have been in operation for at least five years and to have a minimum annual operating revenue of NT$60 million.

In addition, more than half of the company's stocks will have to be owned by corporations or individuals holding Taiwanese citizenship, while no more than 25 percent of the shares should be owned by any single foreign individual.

The CAA in 2007 amended the Civil Aviation Act, allowing private entities to apply to construct and operate new airports. However, it lacked details such as the required capital amounts.


Updated : 2021-10-19 03:12 GMT+08:00