TSMC is in a heated tussle with a golf course to build the most advanced 2nm chip plant on the planet
The Central Taiwan Science Park has issued an ultimatum to the golf club: resolve your issues by December 15 or face compulsory acquisition.
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The Central Taiwan Science Park (CTSP) in Taichung, Taiwan is pushing forward with its second phase expansion which will house TSMC’s most advanced fab yet. CTSP said that over 95% of the land required for expansion has already been agreed for purchase, including the Hsing Nong Golf Course. However, according to United Daily News (machine translated), the golf course’s club members are blocking the acquisition because they demand a NT$1.8-million (approximately US$56,000) buyback price for each golf certificate.
This amount is based on 80% of the average NT$2.2-million price of one golf share for a course based in Central Taiwan over the past two years. Given that the Hsing Nong Golf Course issued 1,750 certificates, that amounts to a total of NT$3.15 billion or over US$98.5 million. However, the current average price of a single golf certificate in central Taiwan has already exceeded NT$3 million (around US$94,000). Nevertheless, the Hsing Nong Golf Course expects to net between NT$15 to NT$20 billion (US$470 to US$626 million) from the sale, even after paying the members’ asking price.
Despite getting a bargain, it seems that the Hsing Nong Golf Course has been avoiding coordinating with its members, thus they are considering filing lawsuits and mounting a protest. This news has led to CTSP’s concern that its land acquisition plans would be jeopardized by years of lawsuits and countersuits. So, it issued a final ultimatum to the golf course owners: resolve the issue with its members by December 15 or face compulsory acquisition, likely through eminent domain.