Focus Taiwan
Date: 2019/03/05
By: Tsai Peng-min and Elizabeth Hsu
Taipei, March 5 (CNA) State-run Taiwan Power Co. (Taipower) said Tuesday that based on international
CNA file photo
arbitration, it must pay American company General Electric Co. (GE) US$158 million in a dispute over payment for a reactor system for use in Taiwan’s fourth nuclear power plant.
Expressing regret at the ruling, which also stipulates that the payment must be made before June, Taipower said it will decide whether or not to accept the International Chamber of Commerce’s (ICC’s) ruling or appeal it after discussing the matter with its team of attorneys.
In April 2014, then-Premier Jiang Yi-huah (江宜樺) announced that the two GE-built reactors at the Lungmen Nuclear Power Plant in Gongliao District, New Taipei, would be mothballed amid rising public outcry against nuclear power following the Fukushima nuclear disaster in Japan on March 11, 2011.
The procedure of mothballing the plant was completed in July 2015 and the plant has been kept mothballed ever since. [FULL STORY]
