Approval for the RM25 billion (US$ 7.6 billion) Mass Rapid Transit (MRT) Line 2 project as well as the appointment of MMC Corp Bhd-Gamuda joint venture (JV), as the project delivery partner (PDP), is expected to be out by Q1 2014. Gamuda Bhd told RHB Research Institute that physical work for the MRT Line 2 or Sungai
Approval for the RM25 billion (US$ 7.6 billion) Mass Rapid Transit (MRT) Line 2 project as well as the appointment of MMC Corp Bhd-Gamuda joint venture (JV), as the project delivery partner (PDP), is expected to be out by Q1 2014.
Gamuda Bhd told RHB Research Institute that physical work for the MRT Line 2 or Sungai Buloh-Serdang-Putrajaya Line, could start in early 2016.
The government was initially expected to give approval for the MRT Line 2 before the end of this year.
Analyst Joshua Ng said assuming that it takes about two years for the completion of land acquisition, public feedback, design and tendering as was in the case of Line 1, physical works for Line 2 should start around early 2016.
"With Line 1 worth RM23 billion ($7 billion) currently under construction and Lines 2 and Line 3 worth RM25 billion each under planning, this mammoth mega project will keep players busy until 2019," Ng said.
a. It has kept Gamuda's fair value unchanged at RM5.45.