Gamuda appointed PDP

KUALA LUMPUR: Gamuda Bhd has been appointed as the project delivery partner (PDP) for the Penang Transport Master Plan (PTMP).

Gamuda told Bursa Malaysia yesterday it would be paid a fee of five to 5.75 per cent based on the project cost.

It was reported that the estimated cost of the PTMP was RM46 billion.

Gamuda said its 60 per centowned SRS Consortium Sdn Bhd had entered into a master agreement with the Penang government.

SRS Consortium will deliver other components of the project, including highways.

It will also provide new reclamation sites comprising islands A, B and C for the Penang South Reclamation project.

“The funding plan includes the provision of a bridge financing, whereby SRS Consortium will provide a bridging loan of RM1.3 billion to the Penang government upon terms to be mutually agreed, to bridge the funding gap in respect of the reclamation of island A,” it said.

Gamuda will also look into the implementation, creation and formation of island A under the Penang South Reclamation project.

The works for island A include a 23.5km rail transit line comprising 20 stations and a 19.5km highway from the Gurney interchange, with additional interchanges on the Bayan Lepas Expressway and Tun Dr Lim Chong Eu Expressway.