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Saturday, August 13, 2005

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stocks, shares, news, FTSE, online trading - Interactive InvestorTaiwan begins deploying cruise missiles on mobile launchers - report
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TAIPEI (AFX) - Taiwan has begun deploying cruise missiles on mobile launchers that are capable of hitting major military targets in southeast China, the China Times said.

The newspaper said that the defense ministry's new missile command has deployed the Hsiung Feng missiles, which have a range of 1,000 kilometers, across the island.

The missiles, each costing some 100 mln twd, were developed by Taiwan's military-run Chungshan Institute of Science and Technology, the paper said.

The institute is also developing cruise missiles with a range of 2,000 kilometers, it added.

The China Times said President Chen Shui-bian has inspected the missile command and witnessed a mock launch of the cruise missiles.

The defense ministry has declined to comment on the report.

Taiwan reportedly successfully test-fired its first cruise missile earlier this year which flew more than 500 kilometers before hitting its target.

Last month, the Pentagon released a report warning that China has deployed up to 730 ballistic missiles targeting the island.

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