Soft loan from federal govt will help expedite Penang’s PTMP projects

KUALA LUMPUR (July 23): A soft loan from Putrajaya will allow the planned Pan Island Link (PIL) and the light rail transit (LRT) system projects in Penang to be implemented simultaneously, Bernama reported chief minister Chow Kon Yeow saying yesterday.

Both the PIL and LRT system are part of the Penang Transport Master Plan (PTMP).

"If we can get a bridging loan (from the federal government) of RM1 billion, the two components, namely the LRT and the PIL can be carried out simultaneously, otherwise it will be implemented one by one.

“One project may take up to five or six years, and both of the projects will take about 12 years. Therefore, the Penang people will have to wait a very long time for the two important projects,” Bernama reported Chow telling the media after a briefing session with Penang MPs and assemblymen on the PTMP in Penang yesterday.

Chow also said he had submitted a proposal to request for the soft loan from the federal government during a state executive council meeting but it was still at an early stage as the approval of the projects under the PTMP are still to be obtained.

According to a report by The Sun, Chow said South Reclamation Scheme Consortium (SRS) will be the project facilitator and it will obtain the approvals needed from the federal agencies.

"They are not the sole contractor involved. There are still work components that fall under the open tender bidding.

"SRS is about getting the approvals and helping us to be ready for construction. The work segments will be tendered out to local and national contractors over the duration of the project," the English daily reported Chow saying.

The PTMP is one of the most ambitious projects to be undertaken by the Penang authorities. It is estimated to cost RM46 billion.

First proposed in 2016, PTMP is a medium to long-term plan to be implemented in phases.