Home > Archives
Thursday August 30, 2007
By DAVID TAN
PENANG: Abad Naluri Sdn Bhd, an associate of Equine Capital Bhd, is spending about RM140mil to build two flyovers to connect the RM25bil Penang Global City Centre (PGCC) project with the Penang Outer Ring Road (PORR).
Equine holds a 25% stake in Abad Naluri, which is developing PGCC on the 260-site where the Penang Turf Club is now located.
Equine executive chairman Datuk Patrick Lim said the flyovers would come with underpasses.
“We are working with MHA (Malaysian Highway Authority) to determine how the flyovers, which are part of our traffic infrastructure project, could complement PORR and three other chain roads in smoothening traffic flow,” he told a media briefing.
Lim said construction work on the traffic infrastructure, which forms the first phase of PGCC, would start next year.
Lim also said Abad Naluri would commit a substantial portion of the gross development value of PGCC for the creation of a green environment.
“About 40% of the project would be green and open spaces,” he said.
Abad Naluri would build facilities in PGCC to reduce carbon monoxide, recycle heat and treat waste, he said, adding: “These facilities will be put in place as we want to make PGCC a carbon-free city.”
Lim added that PGCC would be a “city of tomorrow”.
“We will not have the biggest or tallest tower in PGCC. We want PGCC to have good values and iconic buildings that will give it a unique identity.”
Scheduled for completion in 15 years, PGCC will have two five-star hotels, commercial and residential properties, and a state-of-the-art cultural centre.
Lim said the PGCC project would be officially launched on Sept 12.
EQUINE : [Stock Watch] [News]
EQUINE-L : [Stock Watch]
For latest Bursa Malaysia indices, charts and other information click here
Copyright © 1995-2014 Star Publications (M) Bhd (Co No 10894-D)