IPOH (Oct 11): The Transport Ministry has allocated a gross development value (GDV) of up to RM5 billion for the Ipoh Train Station Integrated Development project which was launched at the train station yesterday.
Its Minister Anthony Loke Siew Fook said the development project would be carried out in stages, taking about 10 to 15 years to be fully completed.
He said the integrated development arising from a Memorandum of Understanding between Railway Assets Corp (RAC) and Menteri Besar Incorporated will turn Ipoh into a transportation hub and mixed development for the area around the station.
Besides transportation, it will also involve commercial and housing development, especially of affordable homes.
“Three months after we signed the agreement, we have been able to launch it today. Of course, we want it to be fast,” he said after attending the launch of the Electric Train Services 2 (ETS2) and integrated development at the Ipoh railway station here yesterday.
Loke said to realise the integrated development needed the cooperation of the State Government and local authorities for approval and ensure the project goes smoothly.
“What is important is we want this station to be developed and become a centre of attention for the public,” he said.
Asked if the development plan will be extended to other States, Loke said there was potential for all Keretapi Tanah Melayu (KTM) routes.
Earlier, in his speech, Loke said the development plan involved an area of 27.5 hectares to create a district with planned development for the areas around the station and rail network.
He added that affordable homes would be built for the people on 16%% of the land area.
Meanwhile, Menteri Besar Datuk Seri Ahmad Faizal Azumu in his speech said the agreement between MB Inc and the Transport Ministry through the RAC was very meaningful to Perak in realising the Ipoh Railway Station project as a high-value mixed development hub which had been delayed for more than 15 years.
He said several units of Rumah Perakku homes as well as medium-cost and luxury apartments would be built in the areas around the Ipoh railway station.
“This is part of the government’s efforts to build 50, 000 units of affordable homes in five years between 2018 and 2023,” he said.
Ahmad Faizal added that commercial space provided in the project would also provide business and employment opportunities to the local residents.
“It is estimated that about 8,500 jobs would be created in the development area,” he said.
Earlier, Sultan Perak Sultan Nazrin Shah launched the ETS2 and the integrated development project.