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PUTRAJAYA (May 6): The Mass Rapid Transit 3 (MRT3) or Circle Line is still too costly to be revived, according to Prime Minister Tun Dr Mahathir Mohamad.
"It is too costly at the moment. We don't have money, [so] we have to cut down on the construction, so we will have to take time...
"We know it is useful, but even if it is useful... for example it'll be a great thing if we can have a high speed rail from Singapore to Hat Yai, but we don't have the money. We can borrow the money, [but] then we'll have problems with financing.
"So everything depends on circumstances. It is easy to promise but when you come in and become responsible, you find that you have to abide by the exigencies of the situation that we are faced with," Dr Mahathir told a press conference here today.
He was asked to comment on speculations that the shelved MRT3 project, previously estimated to cost RM40 billion, could be revived at half its cost.
According to The Edge Malaysia weekly, quoting sources, negotiations are ongoing towards that. The magazine in its May 6-12 edition, citing sources, said the federal government and construction giant Gamuda Bhd were understood to have been in talks over the past few months on reviving MRT3, at a much lower price.
It reported that is perceived that the parties are discussing halving the MRT3's earlier cost of RM45 billion, or about RM22.5 billion.
