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Thursday, May 13, 2010

Iskandar to announce RM250m construction packages soon

JOHOR BARU: Iskandar Investment Bhd (IIB) will be awarding six construction packages with a total value of RM250mil to successful bidders by the end of the month.

Arlida Ariff says catalytic projects are progressing well

President and chief executive officer Arlida Ariff said the packages were mostly for the actual construction work on the buildings related to the IIB strategic projects in Nusajaya, including work on facilities for the University of Newcastle Medicine Malaysia Campus (NUMed) in EduCity, the Marlborough College in International Resort and the Legoland Theme Park in Medini.

“Our planned catalytic projects within the Nusajaya development zone are progressing well and ready for completion as scheduled,” Arlida told StarBiz.

Nusajaya, spanning 9,307.76ha, is one of the five flagship development zones in Iskandar Malaysia. The others are the JB City Centre, Western Gate Development, Eastern Gate Development and Senai-Kulai.

Arlida said the RM300mil NUMed campus on a 5.26ha site in the 123.42ha EduCity was scheduled for completion in May 2011, and the Marlborough College should open in September 2012.

She said Asia's first RM700mil Legoland Theme Park would be the centrepiece of the 230.67ha Medini North, which was expected to open in April 2012, a year earlier than planned.

Work on the infrastructure facilities in Medini, a mixed urban development zone spanning 930.77ha in Nusajaya, was already 46% completed, she said, adding: “Some RM4.2bil has been allocated for the infrastructure inclusive of roads, drainage, earthworks, retention ponds, flood mitigation and telecommunication.”

She said earthworks for Legoland were under way while work on the buildings and attractions in the theme park would start in the third quarter of the year.

The development of projects in Medini is undertaken in partnership between the private and public sectors.

The key investors include IIB, Mubadala Development Co, Aldar Properties, Kuwait Finance House and Millennium Development International.

The overall development of Medini is divided into four distinct zones with separate themes - the Lifestyle and Leisure North, the Financial District, the Medini Central and Lifestyle and Leisure South.

Arlida said IIB and the Iskandar Regional Development Authority were accountable for the success of Iskandar as they were answerable not only to Johoreans but also all Malaysians, as the growth corridor would benefit the whole country.

IIB is backed by Khazanah Nasional Bhd, which holds 60% equity, while the Employees Provident Fund and government-linked company Kumpulan Prasarana Rakyat Johor Sdn Bhd each has 20% equity.

By The Star

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