KUALA LUMPUR: Kidex Sdn Bhd, the developer of the 14.9km Kinrara Damansara Skyway (Kidex Skyway), is expected to begin construction of the RM2.42bil project early next year.
Chief executive officer Datuk Mohd Nor Idrus said the company expected to obtain the Government’s approval by year-end.
“The construction period is slated to be around three to four years from the kick-off date. The Kidex SKyway will be 20% funded by internal funds while the remaining 80% will be through bank borrowings.
“The project would begin at the Damansara toll plaza, on the New Klang Valley Expressway (NKVE, and will pass through Petaling Jaya and Puchong, before linking up to the Bukit Jalil Highway.
“The entire stretch of the skyway will include seven interchanges,” he told a press conference here yesterday.
A skyway is an elevated highway, especially, one well above ground level.
The KIDEX Skyway would provide access to the development corridors along Damansara, Petaling Jaya, Shah Alam, Puchong and Putrajaya via a future connection to the new highway Serdang-Kinrara Putrajaya Expressway (SKIP), Nor said.
On the probable toll rates that would be imposed on the skyway, he said it was the Government’s prerogative and would be finalised once the project was completed.
On the land acquisition and compensation, he said these issues were under the Government’s jurisdiction.
However, Nor said land acquisition may involve 10% of 3,784 lots which were currently affected by a land freeze.
The elevated highway will pass through these industrial lots. Kidex signed a concession agreement in November last year and begun the process of public display and feedback at Menara MBPJ and Tropicana City Mall. — Bernama