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Taipower to rent out Jiaosi land in bid to bolster revenue flow

Taiwan Power Co. (Taipower, 台灣電力公司) yesterday held a meeting to announce plans to rent out its land in Yilan County's Jiaosi Township (礁溪鄉) to local businesses. The country's sole power supplier estimated that, with an area of 11,835 square meters, the land can obtain revenue of NT$700-900 million.

The land is located in the center of Jiaosi, a city popular for it nearby waterfalls and hot springs. Taipower said it expects hotel operators will express interest in the land.

Based on the law, this land can be used for building hotels, retail stores, residences, offices and recreation parks.

Taipower will invite businesses to make bids for the land from Aug. 31 to Oct. 15, with a contract hoped to be signed in November. The contract will likely be for 50 years, with a possible extension period of 20 years.

The move is part of a five-year plan of the Ministry of Economic Affairs (MOEA, 經濟部) to improve the efficiency of Taipower and CPC Corp. (台灣中油公司). Under the plan, Taipower aims to increase revenue by NT$4.2 billion by 2016 via revitalizing its land assets.

Taipower Vice General Manager Lin Hung-yuan (林宏遠) said the company is now checking its land assets and proposing plans to exploit land that is not currently in use.

In the near future, Taipower will also rent out land in Taipei's Nangang District and Heping East Road, a substation in New Taipei City's Banqiao District, and land in Southern Taiwan.

According to Lin, revitalizing Taipower's land assets will not influence electricity rates, which only reflect the costs of fuel.

CPC to Rent Out Land in Taipei

CPC plans to rent land of 2,314 square meters on Taipei's Longjiang Road in the near future.

As part of the MOEA's five-year plan, CPC proposed to increase its revenue by NT$14 billion over five years by restructuring its use of assets.

As for the CPC's headquarter in Taipei's Xinyi District, the oil company plans to increase the area it leases to others in the short term and move its headquarter to cheaper locations in the long term. CPC estimated that they can profit by NT$600 million every year through renting out the building.

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