Ming Rong Yuan New Energy Co (Ming Rong Yuan NE, 銘榮元新能源) has pledged NT$3 billion (US$108.3 million) to build a research, production and storage base for underwater jacket foundations and renewable energy facilities at the Port of Kaohsiung after the InvesTaiwan Service Center approved its application to participate in the government’s incentive programs, the Ministry of Economic Affairs said on Saturday.
The company, a subsidiary of pressure equipment maker Ming Rong Yuan Business Co Ltd (銘榮元實業), was established in June last year to focus on the production of jacket foundations for offshore wind farms.
Ming Rong Yuan NE in October last year completed the construction of a factory in Pingtung County’s Sinyuan Township (新園) to produce tubular steel for jacket foundations and expects to begin full operation in the second quarter of this year, its Web site says.
Photo courtesy of Ming Rong Yuan New Energy Co
The company has formed a technological partnership with Smulders Projects Belgium NV, and seeks to develop its manufacturing capacity and technical base as it looks at offshore wind business opportunities in Taiwan and elsewhere in Asia, the ministry said in a statement.
The investment comes as President Tsai Ing-wen’s (蔡英文) administration promotes offshore wind farms as part of its plans to expand renewable energy generation while phasing out nuclear power in Taiwan by 2025.
The government plans to have 20 percent of the nation’s electricity generated from renewable energy sources by 2025, including 5.7 gigawatts (GW) from offshore wind power. It also plans to source an additional 15GW from offshore wind farms from 2026 to 2035, the Bureau of Energy has said.
“At this critical moment of the nation’s energy transition, Ming Rong Yuan NE aims to meet the needs of domestic green energy markets, as well as prepare for overseas markets in the medium and long term,” the ministry said.
Six other companies were also approved by the InvesTaiwan Service Center on Saturday to create or expand their manufacturing facilities in Taiwan. The six firms are Kingsway Biotechnology Co (金威生物科技), Golden Grande Corp (格安德工業), Charng Chyi Aluminum Co (常琪鋁業), Maxclaw Tools Co (詠基工業), Feng Ling Enterprise Co (豐麟企業) and Li Ying Environmental Technology Co (立盈環保科技), the ministry said. Overall, the seven companies are to invest a combined NT$4.7 billion, it added.
Golden Grande, a maker of personal protective equipment — such as masks, protective eyewear, earmuffs and industrial helmets — plans to invest NT$400 million to install smart production lines and advanced manufacturing equipment at its facilities in Tainan’s Syuejia District (學甲), the ministry said.
Maxclaw Tools, whose products include tube cutting tools, flaring tools, pipe bending tools, wrenches and C-clamps, has reached markets in North America, Australia, Europe and Japan.
A supplier of global automobile, sanitarywares and air-conditioning brands, Maxclaw plans to invest NT$300 million to build office buildings and factories with advanced machines and automatic storage equipment in Taichung’s Taiping District (太平), the ministry said.
Li Ying’s business focuses on turning waste calcium fluoride sludge generated by the semiconductor industry into synthetic fluorite, which can be used in steelmaking.
The company plans to invest NT$200 million in a new plant in the Central Taiwan Science Park (中部科學園區) in Taichung to contribute to a circular economy and reduce domestic reliance on overseas fluorite, the ministry said.
The Invest in Taiwan initiative has to date attracted 1,170 companies to invest more than NT$1.65 trillion in Taiwan, creating 130,110 local jobs. Six applications to join the initiative are pending, the ministry added.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said that its investment plan in Arizona is going according to schedule, following a local media report claiming that the company is planning to break ground on its third wafer fab in the US in June. In a statement, TSMC said it does not comment on market speculation, but that its investments in Arizona are proceeding well. TSMC is investing more than US$65 billion in Arizona to build three advanced wafer fabs. The first one has started production using the 4-nanometer (nm) process, while the second one would start mass production using the
A TAIWAN DEAL: TSMC is in early talks to fully operate Intel’s US semiconductor factories in a deal first raised by Trump officials, but Intel’s interest is uncertain Broadcom Inc has had informal talks with its advisers about making a bid for Intel Corp’s chip-design and marketing business, the Wall Street Journal reported, citing people familiar with the matter. Nothing has been submitted to Intel and Broadcom could decide not to pursue a deal, according to the Journal. Bloomberg News earlier reported that Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) is in early talks for a controlling stake in Intel’s factories at the request of officials at US President Donald Trump’s administration, as the president looks to boost US manufacturing and maintain the country’s leadership in critical technologies. Trump officials raised the
‘SILVER LINING’: Although the news caused TSMC to fall on the local market, an analyst said that as tariffs are not set to go into effect until April, there is still time for negotiations US President Donald Trump on Tuesday said that he would likely impose tariffs on semiconductor, automobile and pharmaceutical imports of about 25 percent, with an announcement coming as soon as April 2 in a move that would represent a dramatic widening of the US leader’s trade war. “I probably will tell you that on April 2, but it’ll be in the neighborhood of 25 percent,” Trump told reporters at his Mar-a-Lago club when asked about his plan for auto tariffs. Asked about similar levies on pharmaceutical drugs and semiconductors, the president said that “it’ll be 25 percent and higher, and it’ll
CHIP BOOM: Revenue for the semiconductor industry is set to reach US$1 trillion by 2032, opening up opportunities for the chip pacakging and testing company, it said ASE Technology Holding Co (日月光投控), the world’s largest provider of outsourced semiconductor assembly and test (OSAT) services, yesterday launched a new advanced manufacturing facility in Penang, Malaysia, aiming to meet growing demand for emerging technologies such as generative artificial intelligence (AI) applications. The US$300 million facility is a critical step in expanding ASE’s global footprint, offering an alternative for customers from the US, Europe, Japan, South Korea and China to assemble and test chips outside of Taiwan amid efforts to diversify supply chains. The plant, the company’s fifth in Malaysia, is part of a strategic expansion plan that would more than triple
RSS