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Monday, May 17, 2010

Iskandar to tender out RM250m deals

ISKANDAR Investment Bhd (IIB), a government company tasked to build catalytic projects in Iskandar Malaysia in Johor, will tender out another six packages of contracts worth a combined RM250 million by the end of this month.

The contracts include jobs to build two schools, a stadium and college buildings. It was earlier reported that IIB will give out RM2 billion worth of contracts this year.

President and chief executive officer Arlida Ariff said the company has awarded over RM3 billion worth of construction jobs since its inception four years ago and is continuously stepping up the development pace at Iskandar Malaysia.

"We will announce the contracts by the end of the month. We have moved past the earthwork phase and into construction. Our team is now working on the tender," she told Business Times in an interview.
IIB is also expected to sign with its Dutch counterpart to establish a world-class Maritime University in Iskandar Malaysia soon. It is also in talks with two other universities to set up engineering and hospitality schools in EduCity, the 120ha education enclave in Nusajaya.

Three institutes that have confirmed their presence to establish a school here are UK's Newcastle University of Medicine, British boarding school Marlborough Overseas Ltd and Singapore-group Raffles Education Corp.

"We seriously view education as a key pillar of growth for the region and IIB's long-term objective is to create a global education hub in Iskandar Malaysia," said Arlinda.

The Legoland theme park, which is among the main attractions at Iskandar Malaysia, is on track to be opened in 2012.

Earthworks are underway and IIB has also awarded contracts to rides operators. Construction of the building will start in the third quarter this year.

The RM750 million Legoland Malaysia is the fifth Legoland in the world after the US, Denmark, Germany and Britain. Spanning 28.32ha, the theme park is some 20 minutes from the Second Link and within Medini in Nusajaya, one of five flagship zones of Iskandar Malaysia.

There will also be a four-star business hotel and a resort hotel around Legoland.

Arlinda said the infrastructure at Medini is already on the way and is about 24 per cent completed. The infrastructure works completed include roads, street lighting, traffic lights, sewer, water reticulation and electricity.

Medini is a 920ha international mixed-use urban development, located on prime greenfield land in the heart of Nusajaya. The development is expected to bring in gross development value in excess RM69.6 billion over 15-20 years.

By Business Times

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