Prasarana vows to reduce cost of LRT3 project

PETALING JAYA: Prasarana Malaysia Bhd said yesterday that it acknowledged the Finance Ministry’s statement on the increase in the total cost of the light rail transit line (LRT3) project and will strive to further reduce the cost.

Prasarana’s president and group CEO Masnizam Hisham said in a statement that the management had in fact begun cost reduction processes since February this year and will continue to work closely with the Finance Ministry and its Project Delivery Partners to identify additional opportunities to bring down the cost.

The state-owned transportation company’s statement came after the Finance Ministry’s call for a “drastic” cost reduction to make the LRT3 feasible and costeffective, which it is forecasted to soar to as high as RM31.45 billion.

According to previous news reports, the cost of the project was to have been capped at RM9 billion.