Penang in talks with Consortium Zenith Construction on signing of Package 2 sub-agreement

GEORGE TOWN (Jan 6): The Penang Government is currently in discussion with concession company, Consortium Zenith Construction Sdn Bhd (CZC) to sign a sub-agreement for Package 2 of the Penang Transport Master Plan (PTMP).

Chief Minister Chow Kon Yeow said the sub-agreement would contain several matters including the construction, design and land swap details for highway construction.

“The State government is in discussion with CZC to sign a sub-agreement for Package 2 which involves the Tun Dr Lim Chong Eu Expressway-Air Itam,” he told a press conference here today.

Chow was commenting on a news report that said the tunnel project had been given a new lease of life with a Kedah-based developer taking over the project through the purchase of a majority share in CZC.

He said the State government was informed on the equity restructuring exercise in the company.

Chow said the sub-agreement for the package would be signed on Jan 15 and further details of the agreement will be announced on that day.

PTMP is the initiative of the State government at an estimated cost of RM46 billion, encompassing an undersea tunnel connecting the island to the mainland, highways, LRT, monorail and a comprehensive bus route network on the island and mainland.

The construction of the 7.2 km tunnel which connects Persiaran Gurney to Bagan Ajam in Seberang Perai Utara is expected to begin in 2023.