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Ambank upbeat on Gamuda’s chances to clinch KL MRT job
By Lee Wei LianJune 25, 2010
KUALA LUMPUR, June 25 — Research house Amresearch believes the KL MRT has a good chance of being implemented and Gamuda is well placed to win the tunnelling works package worth some RM13 billion.
The 150km MRT system was unveiled as part of the 10th Malaysia Plan and Gamuda briefed analysts yesterday that it is bidding to be the project manager for the system as well as undertake the underground portion of the system.
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Right time for MRT
The economic benefits of a mass rapid transit (MRT) system are significant as it could raise the value of property, among other things, but the timing needs to be right as otherwise it could lose its effectiveness.
Outside of Kuala Lumpur, it has been proposed to have MRT stations in Sungai Buloh, Seri Kembangan and even Kajang, sources said.
Within the capital city, it would run under Kampung Baru, an area slated for redevelopment, and provide connections between the existing light rail transit lines.
"Any land that's underdeveloped, the value will be unlocked. It is a very comprehensive paper," one source said.
However, it is unclear when the project, estimated to cost more than RM30 billion, will start although it was mentioned under the 10th Malaysia Plan.
The proposal, which was seen by Business Times, also contains a provision for an MRT Act, which will help the project developer deal with land issues. This means that it will help lower the cost of the project as the government does not have to buy the land if it wants to build an underground tunnel beneath it.
The MRT project was pitched to the government by Gamuda Bhd and MMC Corp Bhd, which built the RM2 billion Storm-water Management and Road Tunnel to alleviate flooding in Kuala Lumpur.
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