Posted Oct 31, 2012, 10:48 AM
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Taipei Twin Towers project to boost Taiwan's steel industry: analysts
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Taipei, Oct. 29 (CNA) The construction of the Taipei Twin Towers, which was awarded to a consortium formed by firms from Japan, Malaysia and Taiwan by the Taipei City government Sunday, will boost the flagging steel industry on the island, according to analysts.
The two towers -- one with 56 floors measuring 243 meters high and the other with 76 floors to be 322 meters high, will have a combined floor space 1.5 times that of the Taipei 101 tower, one of the world's tallest skyscrapers, the analysts said.
The two buildings, to be completed by 2017 and 2018 respectively, will require a lot of steel construction materials, such as steel bars, columns and beams, the analysts said.
One analyst said no steel company could supply all of the steel necessary for the project, and suggested that the consortium will have to line up multiple suppliers. China Steel Structure Co., a subsidiary of Taiwan-based China Steel Corporation, said it hoped to be one of the suppliers and felt it was well-positioned to get the chance because Fu Tsu Construction Co., one of the companies in the consortium, is one of its customers.
China Steel Structure will count on the support of its parent company and subsidiaries to win supply contracts.
An executive with Feng Hsin Iron & Steel Co. in Taichung said his company was also interested in picking up a share of the business.
He echoed the analysts' opinion that the builder of the twin tower would have to work with two or three suppliers to ensure a sufficient supply of steel construction materials.
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