The federal government has reiterated plans to revive the stalled Maju Expressway extension (MEX II)with the central company at present finalising discussions with events appointed by the challenge’s sukuk holders to find out the easiest way to finish the freeway’s development.
In line with works minister Datuk Seri Alexander Nanta Linggi, the discussions are centred round key concerns to make sure the viability of the challenge. These embrace analyzing challenge completion prices, money circulation, visitors impression evaluation and toll charges, the New Straits Occasions studies.
He stated the central company would coordinate the planning and course of the MEX II challenge with related ministries and businesses, particularly with reference to the monetary mannequin. “This can keep in mind applicable parameters for evaluating the challenge’s viability, together with technical elements, and can then be offered to the cupboard for consideration,” he stated in a written parliamentary reply.
Nanta was responding to a query from Yeo Bee Yin (PH–Puchong), who requested in regards to the present standing of the freeway and the steps taken to stop comparable conditions sooner or later. Yeo additionally requested in regards to the quantity of funding wanted to finish the challenge and whether or not this may result in a rise in toll charges.
In response, Nanta stated the MEX II is a totally privatised challenge, funded by the developer by means of a Construct-Function-Switch (BOT) association. Because it was a personal challenge, government-level approval just isn’t required, he stated.
“All challenge progress verifications, together with progress claims, are reviewed and confirmed between the contractor, the concessionaire, the supervision guide (SC), and the impartial checking engineer (ICE), and submitted on to the sukuk holders,” he defined.
Nevertheless, the concessionaire was issued a discover of default by the sukuk holders in January 2022. Since then, all concession obligations have been handed over to the receivers and managers appointed by the sukuk holders to resolve the challenge’s monetary points and full the remaining development.
Development of the 18 km-long, open-toll, three-lane twin carriageway challenge started in early 2017 and was attributable to be accomplished in December 2019. Nevertheless, work stalled attributable to money circulation issues and, extra lately, from MACC investigations into alleged false claims involving RM360 million.
The purpose of the expressway is to supply the shortest and most direct route between the KL metropolis centre to KLIA and KLIA 2 by linking up the 26 km-long MEX to Lebuhraya KLIA (FT26).
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