Taiwan's Cabinet-level Council for Economic Planning and Development (CEPD) has approved a plan to invest $635.6 million in Kaohsiung port over the next four years.
According to CEPD members, the approaching completion of new port facilities at Taipei played a key role in influencing a speedy decision to inject funds into Kaohsiung.
Kaohsiung is widely expected to lose about 5% of its container business as soon as the new Taiwanese port comes on-line by the end of 2008.
Kaohsiung, Taiwan's largest port, was the world's third busiest container port in 1999, but it had dropped to sixth place by 2005.
A large part of the investment is expected to go towards renovating wharves, upgrading handling facilities and improving transport links.
According to CEPD members, the approaching completion of new port facilities at Taipei played a key role in influencing a speedy decision to inject funds into Kaohsiung.
Kaohsiung is widely expected to lose about 5% of its container business as soon as the new Taiwanese port comes on-line by the end of 2008.
Kaohsiung, Taiwan's largest port, was the world's third busiest container port in 1999, but it had dropped to sixth place by 2005.
A large part of the investment is expected to go towards renovating wharves, upgrading handling facilities and improving transport links.