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Thursday, March 6, 2008

MRCB-led group wraps up Penang monorail talks

A GROUP of firms led by Malaysian Resources Corp Bhd (MRCB) has wrapped up talks with the government on the RM3.4 billion Penang monorail project.

The government, through Syarikat Prasarana Negara Bhd, had early this year issued the consortium a letter of intent for the project.

Second Finance Minister Tan Sri Nor Mohamed Yakcop said last month that groundwork for the monorail project was expected to begin by the end of the year.

"We understand that they are now considering all the input we've given them, and we're waiting for them to revert to us if there's anything else that they need, in terms of information," MRCB group managing director Shahril Ridza Ridzuan told Business Times in an interview last week.

If awarded the project, the consortium - comprising Penang Port and Scomi Group - plans to get the project off the ground as soon as possible.

The construction period could stretch between three and four years, he said.

"We've done a lot of preliminary work already at our own expense, in terms of identifying the routes and stations. What needs to be done essentially is to get an agreement from all the relative agencies who would be taking part in this exercise," he said.

Credit Suisse, in a recent report, said it expects details on the project to be announced in the next two to three months.

The monorail project will link the main tourist areas on the island to the city centre and its vicinity.

By New Straits Times (by Adeline Paul Raj)

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