LRT3 project back on track, completion in Feb 2024 LRT3 Friday, February 22nd, 2019 at , Economy | News
By ALIFAH ZAINUDDIN / Pic by MUHD AMIN NAHARUL
THE light rail transit line 3 (LRT3) project is back on track with the signing of a novation agreement between Prasarana Malaysia Bhd, MRCB George Kent Sdn Bhd (MRCBGK) and nine work package contractors (WPC) today.
The novation agreement, which is pursuant to the fixed price contract that was signed between Prasarana and MRCBGK on Jan 25, will allow the WPCs to migrate from the previous project delivery partner (PDP) scheme to the fixed price contract scheme.
Under the new arrangement, MRCBGK is now the turnkey contractor while Prasarana takes the role as the project’s employer. The fixed price contract for LRT3 was drawn up in line with instruction by the Ministry of Finance on July 12, 2018, to reduce the project cost to RM16.63 billion.
The signing of the novation agreement was witnessed by Finance Minister Lim Guan Eng, Transport Minister Anthony Loke Siew Fook and Federal Territories Minister Khalid Abd Samad.
Prasarana was represented by its president and group CEO Datuk Mohamed Hazlan Mohamed Hussain, while MRCBGK was represented by its LRT3 project director Patrick Hwang.
The nine other companies signing the agreement are infrastructure WPCs comprise of Mudajaya Corporation Sdn Bhd, WCT Construction Sdn Bhd, Gabungan Strategik Sdn Bhd, APEX Communications Sdn Bhd, Rahimkon Sdn Bhd, Sunway Construction Sdn Bhd, Pembinaan Jaya Zira Sdn Bhd, SN Akmida and Trans Resources Corporation Sdn Bhd.
Connecting Bandar Utama to Johan Setia in Klang, the competition date for the project under the new agreement is set for February 28, 2024.
The length of the new line is maintained at 37.6km, but the number of stations has been reduced from 26 stations to 20 stations. The five stations are listed as future stations. Park and ride facilities were reduced from 6,000 to 2,300 bays and the number of trains were revised from 42 sets of 6-car trains to 22 sets of 3-car trains.
This has allowed the final project cost to be reduced from RM31.65 billion to RM16.63 billion.
Datuk Mohamed Hazlan expressed confidence that Prasarana, MRCBGK and its partners will be able to meet the project’s new deadline.
“With the commitment and the drive of the new government for a better Malaysia, we are very confident that we can meet this deadline. To do this, however, we hope all our partners with the LRT3 project especially MRCBGK and the WPCs would work closely and amicably with us at Prasarana to meet our deliverables,” he said.
PETALING JAYA: The potential revival of the East Coast Rail Link (ECRL) will not only benefit local construction players, but there will also be positive spillover effects on building material companies in Malaysia.
According to UOB Kay Hian, for one, local contractors would gain if the ECRL project is resumed as the government had reiterated its preference to have greater participation from local construction companies under a new deal as compared to the previous structure, which was dominated by Chinese contractors.
OTB yesterday nite , his conduct share market view on his personal panel class , highly promote LIONIND , his reason , sunset , sunrise concept , time rotated back to its savage moment .
Kyy selfish , he alone prevent the high shoot , still buy on low in current , later gaurantee shoot sky high , limit up possible , william cheng pray hard hard the ZOOM UP .
Posted by khatulistiwa1234 > Feb 26, 2019 12:22 PM | Report Abuse
Don't expect china idiot to cut down cost , old horse is think china idiot too , but the real color soon old horse realize , take one inch get one ruler done . =======
Khatu, long time no see. Wah, u said China will not cut cost...True kah??? Like that mati lah... How steel stocks will go up???
Err.. if base on steel price and their cost between oct>dec, i dont think result will show u any positive.. no sure u are trying influence other or u didnt do homework.
Anyway.. price seem bottom up as annjoo and ssteel result bad also no breaking new low jor..
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
khatulistiwa1234
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Posted by khatulistiwa1234 > 2019-02-22 13:20 | Report Abuse
SEE CHIN PING also 10 head burden , see the gangster trump sir , TAIL also STEP ON .