KUALA LUMPUR, June 22 ― Putrajaya will save RM5.3 billion by acquiring four tolled roads in the Klang Valley in which Gamuda Berhad (Gamuda) is the majority shareholder, Lim Guan Eng said today.
The finance minister confirmed Gamuda’s announcement yesterday that the government wants to acquire Lebuhraya Damansara Puchong (LDP), Sistem Penyuraian Trafik KL Barat (SPRINT), Lebuhraya Shah Alam (KESAS) and SMART Tunnel (SMART) and has issued offer letters to the four concessionaires for a total of RM6.2 billion.
“If the acquisition process of these highways is successful, the Government will acquire the highway concessionaires on 31 December 2019 through a special purpose vehicle (SPV) wholly-owned by the Minister of Finance (Incorporated),” Lim said in a statement.
He added that the acquisition of the four highways represents the Pakatan Harapan (PH) government’s first step in fulfilling its election promise to cut toll fares, which he said will not only benefit motorists and commuters using those roads but Malaysians nationwide who stand to gain from the savings.
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