KUALA LUMPUR (Jan 25): MRCB George Kent Sdn Bhd had today entered into a fixed-price contract with Prasarana Malaysia Bhd for the proposed Light Rail Transit Line 3 (LRT3) project in the Klang Valley.
Malaysian Resources Corp Bhd (MRCB) and George Kent (M) Bhd said this in separate statements to Bursa Malaysia today. MRCB George Kent is a joint venture between MRCB and George Kent.
On Nov 5 last year, theedgemarkets.com reported that on Oct 17, 2018, MRCB George Kent had announced it was notified by the government that the LRT3 project will continue, but at a lower cost of RM16.6 billion — almost half or 47% of the earlier cost of RM31.45 billion in July.
It was reported that the implementation concept of the project was also remodelled from a project delivery partner regime to a fixed-price contract regime.