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Taiwan to invest $28bn in infrastructure upgrades

Plans include new railways, waterworks and data centers

Taiwanese Premier Lin Chuan, who unveiled details of the infrastructure package Thursday.

TAIPEI -- Taiwan plans to invest around 880 billion New Taiwanese dollars ($28.8 billion) in infrastructure over the next eight years, seeking to spur economic recovery by upgrading its rail transport, waterways, and digital industry facilities.

The move will further spur "Taiwan's competitiveness and modernization," Premier Lin Chuan told reporters Thursday, the day President Tsai Ing-wen's cabinet endorsed a proposed special budget including the plan. The measure could pass the legislature as early as May.

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