Penang’s Air Itam-Tun Dr Lim Chong Eu bypass nearing completion
THE Air Itam-Tun Dr Lim Chong Eu bypass edges closer to completion, with Penang disclosing that 92.46 per cent of the construction phase is done. As of last month, there is a 92.46 percent completion rate, although the financial payout to the contrac...
The Air Itam-Tun Dr Lim Chong Eu bypass progress in Penang reaches 92.46 percent completion, but only 81.69 percent of the financial payout to the contractor has been finalized. Penang executive councillor Zairil Khir Johari explained that the remaining amount is financed through land swaps instead of cash sales. Penang has already surrendered 11,6183 acres (RM427.657 million) of landbank, with the consortium seeking the same amount through land swaps.
The consortium has requested Penang to monetize land sales to help with cash flow needs, with the first auction of a 6-acre plot (RM313.632 million) planned for Wednesday at 11 am. The plot, located at PT858 (Plot 7A) in Tanjung Pinang Township, is near Gurney Bay and the reclaimed Andaman Island. Penang will auction the land, and proceeds will be split between the state government and the consortium.
Other infrastructure projects currently underway in Penang include the Mutiara Light Railway Transit, the Silicon Island reclamation, and the upgrading of the Juru - Sungai Dua highway stretch in the North - South Expressway.
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