MRCB George Kent signs LRT3 fixed-price contract with Prasarana

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

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