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Tycoon proposes solution to Taipei Dome project

Tycoon proposes solution to Taipei Dome project

Taiwan Land Development Corp. Chairman Chiu Fu-sheng unveiled Tuesday a proposal to help resolve the troubled Taipei Dome project.

Chiu was responding to reports that he wants to take over the project, as the Taipei City government and Farglory Group have been at a stalemate for one year over the approach to handling the unfinished Taipei Dome structure.

At a press conference, Chiu said he put forward his proposal according to Article 46 of the Law for Promotion of Private Participation in Infrastructure Projects.

According to the law, private enterprises can submit their own design and construction plans within 15 days of the authorities publishing relevant information to help salvage the Taipei Dome project, Chiu said.

Chiu said he proposed to help complete work on the Taipei Dome and bring it into operation by initiating a mechanism in three phases, including meeting the city government's demands for improvements of seven safety-related items in the first phase, and rolling out design plans and operational plans in the second and third phases.

Chiu also said that companies, including Farglory, are welcome to join his team to bid for the project.

Farglory has completed 80 percent of the work on the sports complex, but Taipei Mayor Ko Wen-je ordered it in May 2015 to suspend construction due to several critical flaws and public safety concerns.

In the latest development, Ko issued an ultimatum Monday to Farglory, saying that the city government will give the company three months to comply with its terms for continuing construction work before the contract is dissolved.

Chiu's business scope used to cover the media, sports and land development sectors.

However, he left the media sector in 2008, selling most of his shares in ERA Communications Inc., and then injected his funding and resources into Taiwan Land Development Corp.

Over the past eight years, he has successfully reduced the debts incurred by the company and has engaged in land development projects in Kinmen, Hsinchu, Hualien and Nantou. His company has also undertaken construction of a shopping center in Kinmen and health-care residential units in Hualien and Hsinchu.

In response to Chiu's proposal, a city official said that the city government will first deal with its contract with Farglory before the proposal is deliberated.

Meanwhile, Farglory said that the company will not talk with a third party and that the city government's consideration or options for other enterprises to take over the project have nothing to do with Farglory.


Updated : 2021-05-16 05:50 GMT+08:00