PUTRAJAYA (Feb 10): The target cost of the MY Rapid Transit (MRT) project will be known by the fourth quarter of this year after all 90 tenders have been awarded, said Mass Rapid Transit Corp Sdn Bhd (MRT Corp) chief executive officer, Datuk Azhar Abdul Hamid said on Friday.
He said the target cost was the aggregate of all tenders plus reimbursable capped at RM2.8 billion and the contingency amount capped at six per cent of the total tender awarded.
"We will only know the full tender value of all jobs after they have been awarded.We will be on a better footing towards the end of this year," he told reporters at a press conference after the MRT Corp's signing ceremony here.
On the financing for the MRT project, Azhar said the project would be fully financed by the capital market.
"Yes, it is 100 per cent from the capital market... I think it will be Sukuk from what I know.
"As far as the financing is concerned, it has been finalised.But I am not going to give you the details because this is being arranged by the Ministry of Finance through its subsidiary, Dana Infra.
"The best people to give you the details for the project funding would be the Ministry of Finance," he added. - Bernama
He said the target cost was the aggregate of all tenders plus reimbursable capped at RM2.8 billion and the contingency amount capped at six per cent of the total tender awarded.
"We will only know the full tender value of all jobs after they have been awarded.We will be on a better footing towards the end of this year," he told reporters at a press conference after the MRT Corp's signing ceremony here.
On the financing for the MRT project, Azhar said the project would be fully financed by the capital market.
"Yes, it is 100 per cent from the capital market... I think it will be Sukuk from what I know.
"As far as the financing is concerned, it has been finalised.But I am not going to give you the details because this is being arranged by the Ministry of Finance through its subsidiary, Dana Infra.
"The best people to give you the details for the project funding would be the Ministry of Finance," he added. - Bernama
