Boston, MA -- (ReleaseWire) -- 05/06/2014 -- Construction activity in Taiwan is on the path of recovery and we expect this recovery to accelerate in 2014, with annual sector growth increasing from 0.8% in 2013 to 1.8% in 2014. There are however, pertinent risks to our forecasts - namely the structural economic deficiencies within China, Taiwan's main trading partner, and the municipal elections in Taiwan.
Key Trends And Developments
- Within the nuclear space, safety checks on the Lungmen nuclear plant are expected to run through June 2014 and the final report is expected to be delivered to the Atomic Energy Council by September 2014. Following which, assuming that the council finishes its review of the relevant in time, the Ministry of Economic Affairs hopes that Taipower will be granted approval to install fuel rods by the end of the year.
- Meanwhile, the oldest nuclear plant - the Jinshan Nuclear Power Plant - may be forced to cease operations one or two years earlier than its decommissioning in 2018 if Taipower does not take steps to address its waste storage problem. Shutting the reactor down prematurely would add an estimated TWD14.4bn annually to generate the same amount of power using natural gas, which would undoubtedly add to the financial woes that already plague Taipower.
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