Equine Capital associate building two flyovers


PENANG: Abad Naluri Sdn Bhd, an associate company of Equine Capital Bhd, is spening about RM140mil to construct two flyovers to connect the RM25bil Penang Global City Centre (PGCC) project to the Penang Outer Ring Road, which runs through PGCC. 

Equine Capital holds a 25% stake in Abad Naluri, which is developing PGCC on a 260-site where the Penang Turf Club is presently located. 

Equine executive chairman Datuk Patrick Lim told reporters at a media brief that the flyover would come with underpasses. 

"We are now working with MHA to determine how the flyovers, which is part of our traffic infrastructure project, could complement the PORR and three other chain roads in smoothening traffic flow," he said. 

Lim said construction works on the traffic infrastructure, which formed the first phase of PGCC, would start next year. 

"The first phase will take about three years to complete," he said, adding that the cost of the first phase would be unveiled at a later date. 

Lim also said Abad Naluri would commit a substantial portion of the gross development value for the creation of a green environment. 

"About 40% of the PGCC project would be green environment and open spaces," he said. 

Lim added that Abad Naluri would build a coal-generation plant in PGCC to generate chilled air. 

"There will be facilities in PGCC to reduce carbon monoxide, recycle heat, and treat waste. 

"These facilities will be put in place as we want to make PGCC into a carbon-free city," he said. 

Lim added that the PGCC would be a city of tomorrow. 

"We will not have the biggest or the tallest tower in PGCC. We want PGCC to have good values and iconic buildings that give PGCC a unique identity," he said. 

Lim said the PGCC project would be officially launched in Penang on September 12 2007.  EQUINE :  [Stock Watch]  [NewsEQUINE-L :  [Stock Watch]

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