Taipei, Aug. 22 (CNA) Taiwan High Speed Rail Corp. (THSRC) said Tuesday that it will push for a 10-year rail development plan by offering business deals to local manufacturers in a bid to build Taiwan's rail industry.
THSRC said it is planning to offer NT$17 billion (US$561 million) worth of business deals over the next 10 years to local companies for rail transportation development.
The 10 year rail development plan is in line with an intiative by the Ministry of Transportation and Communications (MOTC), which is aiming to set up a rail technology research and certification center in Taiwan, said THRSC, the sole high speed rail system operator in the country.
Under the MOTC initiative, the government will seek to raise the percentage of locally made components in the rail system from 42 percent to 75 percent over a 10-year period.
As the government is THSRC biggest shareholder, the high speed rail operator has been keen to lead the way on the MOTC's rail development plan, which is part of the government's wider "Forward-looking Infrastructure Development Program."
The government has allocated a budget of more than NT$100 billion for the infrastructure program, pending legislative approval, which includes its rail transportation development initiative.
THRSC is scheduled to give a briefing on Thursday at a conference for some 90 interested private companies about aspects of the rail development plan, which includes areas such as electricity, communications, traffic signals and maintenance services.
Taiwan Railways Administration, Taipei Mass Rapid Transit Corp., Kaohsiung Mass Rapid Transit Corp. and Taoyuan Mass Rapid Transit Corp. are expected to participate in the conference to share their experiences in rail transportation development.
