Construction is expected to take four years.
Construction is expected to take four years, according to Lim Seong Hai Capital Bhd (LSH Capital), Bernama reported.
In a Bursa Malaysia filing today, LSH Capital said the project will be carried out under a privatisation arrangement based on the “build-operate-transfer” model.
It will be jointly undertaken by its wholly-owned subsidiary, LSH Infra Sdn Bhd, and Pertama Makmur Sdn Bhd through an equally owned special purpose vehicle.
LSH Capital said it received a letter today from the works ministry that the Cabinet had agreed in principle to the project.
“The proposed BSE is envisaged to serve as a strategic highway-to-highway connector, enhancing connectivity between existing highways and road networks,” it said.
“The proposed BSE, including the estimated construction cost, construction period and proposed concession period of 60 years, remains subject to the finalisation of detailed technical and financial studies, and the negotiation and execution of the concession agreement,” it said.
LSH Capital said the relevant studies and concession negotiations must be completed within 12 months.
“The approval-in-principle does not impose any obligation on the government to proceed with the proposed BSE,” the company said.
It was previously reported that the project is aimed at strengthening connectivity and easing traffic congestion in Greater Kuala Lumpur.
The proposed elevated expressway will connect several major highway networks, including the KL-Seremban Expressway, MEX Highway, Sungai Besi Expressway (Besraya), New Pantai Expressway, Kesas Highway and the broader Sprint Highway network.
Works minister Alexander Nanta Linggi said it could provide an alternative route for motorists and improve traffic flow between the northern, southern and east coast corridors of Peninsular Malaysia. - FMT
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