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GEORGE TOWN (July 25): Penang Chief Minister Chow Kon Yeow said the state is preparing to apply for funding from the Federal Government for its Light Rail Transit (LRT) system project.
"We will prepare the necessary application on this, and hope it will be considered under the 12th Malaysia Plan," Chow was quoted saying inThe Star today.
He reasoned that the Bayan Lepas LRT project could be funded with federal funds because “all rail projects in Malaysia, especially in the Klang Valley, are funded by the Federal Government”, pointing out that the "Penang LRT is the only one outside the Klang Valley".
Speaking to reporters after officiating an event at the Penang Science Cluster here today, Chow said private funding or loans are possible, but noted that borrowings must be repaid.
"The LRT is not a small project, as it costs more than RM10 billion,” Chow highlighted.
On July 18, Penang received a conditional approval from the Transport Ministry for the state's first LRT project.
Commenting on the Penang South Reclamation, the Minister stressed it “was not only to fund the Penang Transport Master Plan”, but would be imperative to the state's future development.
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