TAIPEI (Taiwan News) — U.S. search engine giant Google received the Taiwanese government's approval on Monday (Oct. 28) to invest NT$26 billion (US$852 million) in the country.
The Ministry of Economic Affairs' Investment Commission on Monday approved NT$26 billion in investments proposed by Google, reported UDN. Much of the funding will be used to expand Google's existing data center operations and purchase related equipment.
However, the Investment Commission did not disclose more information about how the money would be spent, as Google was reluctant to release further details to the public.
Google's will infuse cash into Taiwan via its British Virgin Islands-registered affiliate — Kohl Holdings Ltd. Google built its first data center in the country in 2013 in Changhua County's Changhua Binhai Industrial Zone, and in September, the tech giant announced plans to establish a new data center in Tainan.
The Investment Commission that day approved a total of eight major investment applications, including a request by the Denmark-based Orsted Wind Power TW Holding A/S to invest NT$12 billion into its Taiwanese subsidiary to develop offshore wind power. Japan's Yokohama Hakkeijima Inc. received the green light for a plan to invest NT$375 million into an aquarium and other entertainment facilities at Taoyuan's Gloria Outlets outdoor shopping complex, according to the commission.