KUALA LUMPUR (Jan 25): MRCB George Kent Sdn Bhd had today entered into a fixed-price contract with Prasarana Malaysia Bhd for the proposed Light Rail Transit Line 3 (LRT3) project in the Klang Valley.

Malaysian Resources Corp Bhd (MRCB) and George Kent (M) Bhd said this in separate statements to Bursa Malaysia today. MRCB George Kent is a joint venture between MRCB and George Kent.

*MRCB-George Kent not seeking any compensation from Prasarana, govt

*MRCB-George Kent JV bags RM11.86b LRT3 job for Bandar Utama-Johan Setia portion

On Nov 5 last year, theedgemarkets.com reported that on Oct 17, 2018, MRCB George Kent had announced it was notified by the government that the LRT3 project will continue, but at a lower cost of RM16.6 billion — almost half or 47% of the earlier cost of RM31.45 billion in July.

It was reported that the implementation concept of the project was also remodelled from a project delivery partner regime to a fixed-price contract regime.  — theedgemarkets.com

Click here for more property stories.

SHARE
RELATED POSTS
  1. LRT3 surpasses 91% completion, on track to commence ops by March 1, 2025, says Loke
  2. Additional RM4.7b allocated for LRT3 to serve multiple purposes, clarifies Loke
  3. Lawmaker questions cost discrepancy between five revived LRT3 stations and Penang LRT project