Project delivery partner master agreement for PTMP inked

THE project delivery partner for the Penang Transport Master Plan (PTMP), SRS Consortium, will have to prepare and present the financial architecture plan for the PTMP to the Penang government within a month.

Chief Minister Chow Kon Yeow said the financial architecture plan would enable the state government to view the cost and cash flow of the PTMP projects.

The three main components of the PTMP are the Bayan Lepas Light Rail Transit (BL LRT), the Pan Island Link (PIL1 and PIL2A) highways, and the Penang South Reclamation (PSR) project. It was reported that the estimated cost of the PTMP projects was RM46 billion.

Chow said the consortium was responsible to come up with RM1.3 billion in bridging finance while the state would have to provide RM1 billion.

“We will study the financial architecture plan before we make a decision. Let us not jump the gun,” Chow told a press conference after signing the project delivery partner master agreement for the PTMP at St Giles The Wembley Hotel in Magazine Road today.

Chow delivering his speech before the signing ceremony.

THE project delivery partner for the Penang Transport Master Plan (PTMP), SRS Consortium, will have to prepare and present the financial architecture plan for the PTMP to the Penang government within a month.

Chief Minister Chow Kon Yeow said the financial architecture plan would enable the state government to view the cost and cash flow of the PTMP projects.

The three main components of the PTMP are the Bayan Lepas Light Rail Transit (BL LRT), the Pan Island Link (PIL1 and PIL2A) highways, and the Penang South Reclamation (PSR) project. It was reported that the estimated cost of the PTMP projects was RM46 billion.

Chow said the consortium was responsible to come up with RM1.3 billion in bridging finance while the state would have to provide RM1 billion.

“We will study the financial architecture plan before we make a decision. Let us not jump the gun,” Chow told a press conference after signing the project delivery partner master agreement for the PTMP at St Giles The Wembley Hotel in Magazine Road today.