Penang Infrastructure Corporation (PIC) was established by the Penang State Government as the special purpose vehicle to ensure smooth implementation of the various components under the Penang Transport Master Plan (PTMP) and Penang South Islands (PSI).
The PTMP aims to achieve 40% of public transport usage by building a state-wide rail system that is supported by other feeder services. New major roads, expressways, and the third link will serve the remaining 60% of road users.
Building a state-wide comprehensive transport infrastructure require a long time frame. Traffic flow continue to increase as the state’s population and economic activities grow. Therefore, the PTMP is urgently needed in Penang to address the current traffic congestion and foreseeable mobility demand in the coming years.
The implementation time frame for PTMP components is estimated to take up to 30 years at a cost of over RM40 billion. The funding for the PTMP will be hugely contributed from the development of the Penang South Islands (PSI) project. Therefore, the implementation of the PTMP will have to be carried out in phases based on the profits generated from the reclamation project.
The PTMP components being prioritised under the first phase are PSI, the Pan Island Link, the Ayer Itam – Tun Dr Lim Chong Eu Bypass (Package 2), and the Bayan Lepas Rail Line.
“Rome wasn’t built in a day,” but we have to start at some point. The construction of Package 2 started in early 2021. The progress of other PTMP components is on the way.
Dato Seri Farizan Darus
Chief Executive Officer
Penang Infrastructure Corporation