PENANG has obtained final approval from the cabinet to construct its biggest-ever infrastructure project - the 26km light rail transit (LRT) system which will run from Silicon Island to Butterworth.
Chief Minister Chow Kon Yeow confirmed this, telling a press conference here that the proposed RM10 billion project is looking for the site work to commence in the third quarter of this year.
Despite overwhelming objections from civil societies here, who opted for a cheaper version of modern trams and public bus network, Chow today declared that the cabinet has given the final nod for work to commence on the LRT after the necessary approval was sought and executed by the state government.
The initial approval is the first segment which will cover the link from the reclaimed Silicon Island off Batu Maung to Komtar - the seat of the state administrative capital.
This segment has been awarded to the SRS Consortium Sdn Bhd, the project delivery partner of the Penang Transport Master Plan.
It is believed that the SRS will also build a link from the man-made island to the Penang International Airport in Bayan Lepas.
SRS was awarded the single sourcing request for the proposal mechanism due to the earlier work that SRS had committed for the project.
The second is the link from Komtar in George Town to Penang Sentral in Butterworth.
The link is expected to cover 6km with a separate LRT rail bridge built altogether across the Penang Channel.
It would be subjected to an open tender.
The third is the sourcing and installation of the turnkey systems and rolling stock including the 27 stations and two depots; it too would be classified as open-tender.
Residents on the island and Butterworth are expected to witness an unprecedented level of construction pace on both the elevated and underground terrains for the LRT, which is expected to be fully completed in the next five years.
The main delivery partner is the government-linked company - MRT Corp Bhd.
Earlier, Chow and state executive councillor Zairil Khir Johari witnessed the signing ceremony between the Penang start-up FinHero and Japan's NTT Data Corp.
The signing is for FinHero to further explore the financial tech markets and offer software solutions to fast-track the underwriting of new financial opportunities for small and medium enterprises in the country with NTT as its strategic stakeholder.
FinHero was a beneficiary of InvestPenang's Penang i4.0 seed fund and it is among 49 other local start-ups to have received state funding worth RM5 million. - The Vibes, March 29, 2024.
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