Gadang advances as RM863.4mil MRT work starts

KUALA LUMPUR: Shares of Gadang Bhd rose in active trade on Thursday as work on the Mass Rapid Transit (MRT) V2 viaduct got under underway. The work package was valued at RM863.4mil.

At 3.19pm, Gadang was up two sen to 67.5 sen. There were 2.05 million shares transacted at prices ranging from 66 sen to 68 sen.

The FBM KLCI added 3.49 points to 1,664.16. Turnover was 823.19mil shares valued at RM807.78mil. There were 331 gainers, 294 losers and 341 counters unchanged.

Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) announced that work on MRT V2 viaduct by Gadang Engineering (M) Sdn. Bhd had started.

To recap, the V2 work package, valued at RM863.4mil, was awarded to Gadang Engineering in June 2012.

Spanning more than 5km, Gadang will construct the MRT viaduct guideway and other associated works from Kota Damansara to Dataran Sunway. The package is expected to be physically completed in February 2016.

The viaduct works stretches 5.14km and will be the alignment for three MRT stations, namely Taman Industri Sungai Buloh, PJU and Dataran Sunway. The alignment will start from Taman Industri Sungai Buloh, specifically inside Lembaga Getah Malaysia and will run through Sungai Buloh and end at Dataran Sunway, fronting Sunway Giza.