Govt initiative carves out RM50.8bil worth of contracts for bumiputra firms

KUALA LUMPUR: The Carve Out and Compete initiative, for bumiputra companies, has generated a value of RM50.8bil worth of contracts via various mega projects identified by the government, said Prime Minister Datuk Seri Najib Tun Razak.

He said the Government has for instance allocated 45% from the total contract of the RM9bil Light Rapid Transit (LRT3) project to bumiputra contractors via the initiative led by the Bumiputra Agenda Steering Unit (Teraju).