Taichung mayor defends multibillion dollar project

The Shuinan trade park is an important indicator of Taichung's future and the returns from various related developments will be several times the investments, the mayor was cited by the United Evening News as saying.

He said the Taiwan Tower, the high-rise landmark of the park, may need NT$6 billion to build, but NT$100 billion may be generated from land sales in its neighborhood, resulting in net profits of about NT$60 billion for the municipal government.

Hu was responding to skepticism raised recently by some city councilors concerning the trade park project's economic outlook.

The mayor said the project is the city's most important one in 400 years, asking the city's residents to have faith in it.

“The Shuinan project will not incur losses,” he was cited as saying.

The mayor maintained that the Taiwan Tower is an environmental design inspired by the shape of the banyan tree, and will be an “oasis” of the city.

City Councilor Chen You-chiang also backed project, saying the council should reach a consensus in support of it.

He said if Taichung does not construct the trade park, it will have nothing to enable its competition against the other four special municipalities of the country — Taipei, New Taipei City, Tainan and Kaohsiung.

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