Kaohsiung Rapid Transit Corporation
Encyclopedia
The Kaohsiung Rapid Transit Corporation (KRTC) is a corporation established by the municipal government of Kaohsiung
, Taiwan
to build and operate a rapid transit
system for the municipality of Kaohsiung. The corporation was established on February 1, 1999. The government signalled the start of this BOT (Build, Operate, Transfer) project with solicitation of private sector investment in the initial phase of a Kaohsiung Rapid Transit System-the Red and Orange Lines Construction Project. This first step demonstrated Kaohsiung Municipal Government's determination to propel Kaohsiung City and County towards a prosperous future. The Kaohsiung Rapid Transit System will not only fulfill a transport function but will also provide the framework and catalyst for the development of the fabric, the economy and the quality of life of the area, and for the promotion of community life, culture and art.
China Steel Corporation
has been based in Kaohsiung for nearly 30 years. Based on its mission objective of contributing to the development of its home city, China Steel sponsored the establishment of the provisional office of the Kaohsiung Rapid Transit Corporation in February 1999 and lodged an application to invest in the project following the solicitation of the Kaohsiung Municipal Government. The main participants in the Kaohsiung Rapid Transit Corporation are: China Steel Corporation, Southeast Cement Corporation, RSEA Engineering Corporation, China Development Industrial Bank and Industrial Bank of Taiwan.
Following the public appraisal of the applications by the Kaohsiung Municipal Government, Kaohsiung Rapid Transit Corporation was selected on May 26, 1999 as one of the shortlisted applicants. On May 10, 2000, the Corporation was selected as the best applicant and concluded the relevant agreements and protocols with the Kaohsiung Municipal Government in August 2000. The raising of the initial capital stock was completed on December 19, 2000 and an inaugural meeting of the stockholders was held on the same day. Kaohsiung Rapid Transit Corporation obtained a company licence and was registered on December 28, 2000. The Corporation signed the" Construction and Operation Agreement" and" Development Agreement" with the Kaohsiung Municipal Government on January 12, 2001.
Kaohsiung
Kaohsiung is a city located in southwestern Taiwan, facing the Taiwan Strait on the west. Kaohsiung, officially named Kaohsiung City, is divided into thirty-eight districts. The city is one of five special municipalities of the Republic of China...
, Taiwan
Taiwan
Taiwan , also known, especially in the past, as Formosa , is the largest island of the same-named island group of East Asia in the western Pacific Ocean and located off the southeastern coast of mainland China. The island forms over 99% of the current territory of the Republic of China following...
to build and operate a rapid transit
Rapid transit
A rapid transit, underground, subway, elevated railway, metro or metropolitan railway system is an electric passenger railway in an urban area with a high capacity and frequency, and grade separation from other traffic. Rapid transit systems are typically located either in underground tunnels or on...
system for the municipality of Kaohsiung. The corporation was established on February 1, 1999. The government signalled the start of this BOT (Build, Operate, Transfer) project with solicitation of private sector investment in the initial phase of a Kaohsiung Rapid Transit System-the Red and Orange Lines Construction Project. This first step demonstrated Kaohsiung Municipal Government's determination to propel Kaohsiung City and County towards a prosperous future. The Kaohsiung Rapid Transit System will not only fulfill a transport function but will also provide the framework and catalyst for the development of the fabric, the economy and the quality of life of the area, and for the promotion of community life, culture and art.
China Steel Corporation
China Steel
China Steel Corporation is the largest integrated steel maker in Taiwan. Its main steel mill is located in Siaogang District, Kaohsiung. The corporation and its sister companies are administrated under the CSC Group...
has been based in Kaohsiung for nearly 30 years. Based on its mission objective of contributing to the development of its home city, China Steel sponsored the establishment of the provisional office of the Kaohsiung Rapid Transit Corporation in February 1999 and lodged an application to invest in the project following the solicitation of the Kaohsiung Municipal Government. The main participants in the Kaohsiung Rapid Transit Corporation are: China Steel Corporation, Southeast Cement Corporation, RSEA Engineering Corporation, China Development Industrial Bank and Industrial Bank of Taiwan.
Following the public appraisal of the applications by the Kaohsiung Municipal Government, Kaohsiung Rapid Transit Corporation was selected on May 26, 1999 as one of the shortlisted applicants. On May 10, 2000, the Corporation was selected as the best applicant and concluded the relevant agreements and protocols with the Kaohsiung Municipal Government in August 2000. The raising of the initial capital stock was completed on December 19, 2000 and an inaugural meeting of the stockholders was held on the same day. Kaohsiung Rapid Transit Corporation obtained a company licence and was registered on December 28, 2000. The Corporation signed the" Construction and Operation Agreement" and" Development Agreement" with the Kaohsiung Municipal Government on January 12, 2001.