‘END CONTRACT’:The Songshan Tree Protection Volunteer Union’s Arthur Yo said the Farglory contract should be ended before it has a chance to finish the job

Taipei Times
Date: , Jun 27, 2015
By: Abraham Gerber  /  Staff reporter

Banks said that they hope the Taipei City Government can “coach” Farglory Group (遠雄集團) to produce a follow-up Taipei Dome safety plan, according to Deputy Taipei Mayor Teng Chia-chi (鄧家基).

The banks’ stance belies Farglory’s position that the terms of the contract under which it borrowed construction funds should restrict the results of ongoing negotiations with the city, Teng said after a meeting yesterday.

The city and Farglory have been locked in conflict over the build-operate-transfer project’s contract and site safety since January.

The city government yesterday held an initial “information session” with the banks behind the Taipei Dome’s syndicated loan.

“Even though financing institutions are not included in the [Dome] contract, their loans mean that they have a large stake in the project,” Teng said.

He said that city departments had made several presentations to banking representatives to ensure that they had “first-hand” information on city policy.

“There is a possibility that in the future our partnership can continue to be pushed forward and expanded,” he said.