RM 7.1 B West Coast Highway Project being Reviewed by Attorney General

It has been reported in the press that the planned RM 7.1 Billion West Coast Expressway  linking Taiping in the state of Perak to Banting is being reviewed by the Attorney General who has as yet not signed the deal off and is still reviewing the legal documents. The report states that the Attorney General is concerned that the highway concession is not in the public interest and he has informed the relevant government agencies of his concerns regarding the 224km proposed highway.

It was reported that his main concerns were related to:
    • A RM 2.2 billion soft loan to the concession
    • Government subsidising loans to the concession
    • Government picking up the land acquisition costs said to be  RM 1 Billion
    • The granting of a 60-year concession period
    • The estimated construction cost escalating by RM 4 billion.
Both articles are available to view by following the following links:
On the 14th March 2012 It was announced that IJM had purchased 20% WCE please refer to article in business edge below
Advertisements

Comments are closed.