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Tuesday, April 6, 2021

Putrajaya reviewing takeover of Gamuda's highways

 


Putrajaya had axed a Pakatan Harapan-administration plan to take over four highways owned by Gamuda Bhd and was now reviewing a new proposal by the company.

Speaking to reporters in Kuala Lumpur today, Works Minister Fadillah Yusof (above) said the government did not proceed with the previous administration's plans due to financial considerations.

"However, Gamuda came back with a new proposal for a new scheme as what was done by Plus where the concession will be extended, with a fixed rate, and that is now under review," he said, according to the Malay Mail.

Fadillah said the government was considering the situation faced by other highway operators in the Klang Valley as well.

"We have to look at the whole package because there are highways that are profitable and there are those operating at a loss, so we have to look at the whole package to find a solution to the problem we are facing now," he said.

During the Harapan administration, Putrajaya had offered RM6.2 billion to acquire Gamuda Bhd's stake in companies that operated the Damansara-Puchong Expressway (LDP), the Western KL Traffic Dispersal System (Sprint Expressway), the Shah Alam Expressway (Kesas) and the Smart Tunnel.

At the time, then finance minister Lim Guan Eng said that the four highways had a 48 percent market share of the urban tolled roads market, based on revenue collected.

The Harapan administration had planned the move to allow a "congestion charge" system to be implemented whereby motorists would pay lower or zero charges during off-peak hours.

However, the only major highway policy that Harapan managed to implement before it was ousted in March 2020 was the 18 percent cut in toll charges for the Plus Highway. - Mkini

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