PETALING JAYA: After more than 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 unit, Lebuhraya DUKE Fasa 2A Sdn Bhd (LDF2A), was notified by the government yesterday of the approval to implement LIKE, previously referred to as the Istana Link, and KBL
The project will be carried out in two phases. The first phase will involve LIKE.
Ekovest said the government and LDF2A will proceed with signing the concession agreement for LIKE once it has been “checked and cleared” by the Attorney-General’s Chambers.
The second phase, which pertains to KBL, will see the Public-Private Partnership Unit 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 got principle approval from the government for the privatisation of KBL, LIKE and Kapar Link Expressway, spanning a total of 75.2km.
