Penang govt denies PSR Island A joint venture a unilateral decision

Diterbitkan oleh The Vibes • 22/06/2021 • 05:08 pm

The decision to start a joint venture for Island A is part of the Penang government’s long-term development plan to expand the industry and assist the state’s post-Covid-19 recovery efforts, says political secretary to chief minister Teh Lai Heng. – constructionreviewonline.com pic, June 22, 2021

GEORGE TOWN – The Penang government denies that the decision to implement the Penang South Reclamation (PSR) project for Island A as a joint venture (JV) with a developer was made based on a unilateral decision.

Political secretary to chief minister Teh Lai Heng said the allegations made by the irresponsible parties seem to belittle the decisions made by executive councillors.

“The decision on the JV was achieved based on the decision of the Penang executive council comprising executive council members on March 24, 2021.

“Those who spread this false news are not only irresponsible but also have a malicious intent to give the impression that the Penang government is divided,” he said in a statement today.

Teh explained that the decision to have a JV for the building of Island A is the state government’s long-term development plan to expand the industry and assist the state’s recovery efforts as it has been severely affected by the Covid-19 pandemic.

Last March, the state government announced changes to the financing plan for Island A that would be made through a private financing initiative without involving any funds from the state government, with a 30:70 stake with SRS Consortium.

Chief Minister Chow Kon Yeow also announced that preliminary work or Phase 1 reclamation work will be started on Island A first, which is expected to take five years to complete, at a cost of RM3.8 billion.

However, the government’s decision drew protests mainly from environmental non-governmental organisations, who claimed the JV is not transparent and raises many questions. – The Vibes, June 22, 2021