PETALING JAYA: PJD Link (M) Sdn Bhd, the concessionaire of the proposed Petaling Jaya Dispersal Link (PJD Link Expressway), has secured funding amounting to RM922mil as part of its project financing required for the PJD Link Expressway.
PJD Link signed a heads of agreement (HoA) with MCC Overseas (M) Sdn Bhd (MCC Malaysia), a subsidiary of China Metallurgical Group Corp during the 14th International Infrastructure Investment and Construction Forum (IIICF).
The forum was co-hosted by the China International Contractors Association and the Macao Trade and Investment Promotion Institute in Macao on June 1, 2023.
Under the HoA, MCC Malaysia will be appointed as the engineering, procurement and construction contractor of the PJD Link Expressway.
In the statement, PJD Link chief executive officer Amrish Hari Narayanan said the group was now able to move forward with the remaining phases of its project finance, which include raising the remaining portion of the project cost via the sukuk market.
“The capacity to finance the project is one of the conditions precedent under the concession agreement, in addition to obtaining approvals for the social, environmental and traffic impact reports.”
The PJD Link Expressway is a 25.4-km, two-lane dual carriageway (four lanes) expressway that will commence after the NKVE Toll Plaza on Sprint Highway, Damansara and end at Bukit Jalil Highway Interchange.
This key infrastructure project is aimed at improving traffic congestion and cater to future vehicle growth in the Greater Kuala Lumpur and Klang Valley area.
Upon completion, PJD Link Expressway will play a significant role in dispersing traffic congestion as it provides major connections with six major highways.
These include the New Klang Valley Expressway, Sprint Highway, Federal Highway, New Pantai Expressway, the Shah Alam Expressway and Bukit Jalil Highway.
PJD Link signed a concession agreement with the government on April 5, 2022.
MCC Group is a large construction engineering conglomerate listed on the Shanghai and Hong Kong Stock exchanges.
The IIICF is a major event that brings together government officials, industry leaders and investors from around the world to discuss the latest trends and developments in the infrastructure sector.
The forum serves as a platform for promoting investment in infrastructure projects and for facilitating the exchange of ideas and best practices.