TAIPEI (Taiwan News) — Taipei Mayor Chiang Wan-an (蔣萬安) said the city is still negotiating a land rights agreement with Shin Kong Life Insurance for plots expected to provide space for Nvidia’s headquarters in Taiwan.
On Friday, Chiang said that Taipei and Shin Kong both expect to finalize the terms of the land rights termination next week, reported UDN. Over the past several weeks, the city has been negotiating with the insurance company to settle, with recent reports suggesting Taipei will pay a termination fee of NT$200 million (US$6.47 million).
Plans for Nvidia’s Taipei campus were stalled earlier this year due to a land rights dispute, which forced Taipei to terminate Shin Kong’s contract for the land’s development rights. Because of a lapse in the terms outlined by Nvidia and Shin Kong, Taipei will be forced to renegotiate a new development deal directly with Nvidia.
Once Taipei reacquires the rights to develop plots T17 and T18 at Beitou-Shilin Technology Park, Taipei plans to begin negotiations with Nvidia. The city government has confirmed the plots are reserved for the Nvidia project, however, it is still incumbent on Nvidia to agree to new terms after its previous agreement with Shin Kong fell through.
The mayor expressed his hope that Nvidia is still eager to establish its Taiwan headquarters in Taipei at the Beitou-Shilin site. Chiang said he thinks Nvidia is carefully evaluating the situation.
In related news, Nvidia CEO Jensen Huang (黃仁勳) arrived in Taiwan on Friday to attend events organized by TSMC. When asked by reporters whether he would meet with Huang in the coming days, Chiang refused to comment on the issue, per UDN.
