Alexa
  • Directory of Taiwan

CEPD to raise investment in power plant to US$4.7b

CEPD to raise investment in power plant to US$4.7b

The government will boost its investment in a power plant renovation project in the northern county of Taipei to NT$152.4 billion (US$4.7 billion) due to soaring international prices for raw materials and machines, an economic official said yesterday.
The Cabinet-level Council for Economic Planning and Development originally planned to allocate NT$83 billion for the state-run Taiwan Power Co.'s (Taipower's) Linkou power plant renovation, the CEPD official noted.
The investment plan has been held up for two years due to some environmentalists' concerns about the environmental impact of the plan, the CEPD official noted.
Two years ago, prices of equipment and materials were low, the official went on, adding that now, the approval of the plan comes amid a boom in construction projects in China and India, which has resulted in skyrocketing prices of raw materials and rising demands for equipment and machines.
In addition, an increasing number of professionals with experience working on the plant have begun to retire, which will further delay the completion of the renovation, slated for 2020, and increase costs, according to a Taipower spokesman.
The power plant, which supplies electricity to northern Taiwan, will use more efficient components in the future and produce less air pollution, the spokesman said.
Meanwhile, acquiring the large volume of construction materials needed for the power plant will help boost the local economy, the spokesman noted.


Updated : 2021-06-21 02:19 GMT+08:00