Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (Sept 7): Shares of Malaysian Resources Corporation Bhd (MRCB) and George Kent Bhd fell in early trade today after the companies were appointed as project delivery partner (PDP) for the RM9 billion Light Rail Transit 3 (LRT3) project.

At 9.09am, MRCB fell 1% or one sen to 99 sen with 3.19 million shares done while George Kent had earlier slipped to RM1.37 before settling at RM1.39 with 893,800 shares traded.

"The Ministry of Finance (MoF) has given approval for the appointment of the MRCB-George Kent JV as the PDP for LRT3," Prasarana chairman Tan Sri Ismail Adam told a news conference last Friday.

Its group president and chief executive officer Datuk Azmi Abdul Aziz said following this, the PDP will begin the infrastructure and system design works, with pre-qualification of contractors for the various work packages to be conducted by the end of this year.

He added that by December, the final alignment of LRT3 and funds for the acquisition of land will be known.

Azmi said the ground work of the LRT3 is expected to begin by early 2016, noting that the deadline for completion is Aug 31, 2020.

      Print
      Text Size
      Share