KL to build $1.3b road

KL to build $1.3b road

KUALA LUMPUR (AFP): A Malaysian consortium led by listed property group, Talam Corp. Bhd. is negotiating with the government to build a 3. 3-billion-ringgit (US$1.32 billion) coastal road project, officials said.

Konsortium Lebuhraya Persisiran Barat Sdn. Bhd. was working out the concession deal, technical details and proposed toll charges, Talam chairman Chan Ah Chye said. Negotiations could stretch from six months to two years, he said.

A proposal/viability study for the project was submitted to the government in October last year after the group received a letter of exclusivity to design the project, Chan was quoted by news reports Monday as saying.

"This does not necessarily mean that we get to do the job as it all depends on whether negotiations with the government would be successful or not," he said.

The privatized 260-kilometer (162-mile) highway project stretching from Banting in central Selangor state to northern Perak state will take six years to complete.