KUALA LUMPUR, Sept 4, 2015:

Malaysian Resources Corporation Bhd (MRCB) has been awarded the RM9 billion third phase of the light rail transit (LRT3) project in the Klang Valley.

The appointment of MRCB and and George Kent (M) Bhd as the project delivery partners (PDP) by Prasarana Malaysia Bhd was announced today, with work on the project expected to start early next year.

Running from Bandar Utama in Petaling Jaya to Klang, the 36km stretch is expected to start operations at end-August 2020.

Prasarana managing director Datuk Azmi Abdul Aziz said Prasarana will finance the project via the issuance of sukuk, of which the coupon rate would be decided later.

The RM9 billion estimate does not include the cost of land acquisition – which will only be revealed only after Prasarana had confirmed the number of packages of land they will acquire for the LRT3 construction.

“The appointment of MRCB as PDP is to start the design work immediately, in order to establish and confirm for our approval of the technical design characteristics and to be able to work towards the pre-qualifications of the contractors to be invited to participate.”

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