Govt nods Ekovest's highway privatisation

PETALING JAYA: After over eight years, Ekovest Bhd has received the government’s approval to proceed with the proposed privatisation of two urban expressway projects – Laluan Istana–Kiara Expressway (LIKE) and the Kampung Baru Link Expressway (KBL) – under its highway expansion plan.

 

In a filing with Bursa Malaysia, Ekovest said its wholly owned subsidiary Lebuhraya DUKE Fasa 2A Sdn Bhd (LDF2A) was notified by the government yesterday of the approval to implement the LIKE — previously referred to as the Istana Link — and the KBL.

 

The project will be implemented in two phases, with the first phase involving the Laluan Istana–Kiara Expressway (LIKE).

 

Ekovest said the government and LDF2A will proceed with signing the concession agreement for LIKE once it is “checked and cleared” by the Attorney-General's Chambers.

 

The second phase, which covers the KBL, will see the Public-Private Partnership Unit (UKAS) working with relevant ministries and LDF2A to finalise the key terms of the concession by Dec 31, 2026.

 

The proposal was first disclosed in January 2017, when Ekovest announced it had secured principle approval from the government for the privatisation of the KBL, LIKE and Kapar Link Expressway, spanning a total of 75.2 kilometres.

 

At the time, the project was estimated to cost RM6.32bil and was intended “to provide vital connectivity and direct linkage for movement in and around Kuala Lumpur city center and complete the missing link for seamless travelling in and out of Greater Kuala Lumpur and Klang Valley.”

 

Ekovest is also the concessionaire of the Duta–Ulu Kelang Expressway (DUKE) network, including its phase 2 extensions.