End of the road: Taiwan's first FIA Group 2 racetrack shuts down indefinitely
Taiwan News
Date: 2019/07/03
By: Keoni Everington, Taiwan News, Staff Writer
(Photo from Penbay International Circuit website)
The 3.527-km long track, located in Donggang Township, Pingtung County first started running races in October 2011. However, the company that managed the track on a Build-Operate-Transfer (BOT) basis, "Oriental Leisure Group" (東方休閒集團), today (July 3) announced that it will shut down the speedway in mid-July due to financial losses and a breakdown of negotiations with the government.
After many consultations with the government failed to reach a consensus on the terms of the BOT program, the company decided to issue an ultimatum to the government of "stopping business," similar to a strike, reported ETtoday. However, according to a source familiar with the matter, the government was unmoved by the action.
In response, the company officially declared the closure of the track and it appears that operations will be suspended indefinitely. Currently, the Dapeng Bay National Scenic Area consists of two sections which are operated on a BOT basis by the Dapeng Bay International Development Co., Ltd., a subsidiary of Oriental Leisure Group. [FULL STORY]
