KUALA LUMPUR: Ekovest Bhd
has secured a 54-year concession from the government for the construction and management of the Laluan Istana – Kiara Expressway (LIKE).
In a stock exchange filing, the construction firm and highway concessionaire said its subsidiary, Lebuhraya DUKE Fasa 2A Sdn Bhd, had entered into the concession agreement with the government, which will see the company undertake the construction, operation and maintenance of LIKE and erect a toll plaza for collections during the concession period.
Lebuhraya DUKE Fasa 2A was granted approval for the proposed privatisation of LIKE - previously referred to as the Istana Link - as well as the Kampung Baru Link Expressway (KBL) in May 2025.
Ekovest announced in a May 5, 2025, filing with Bursa Malaysia that the project would be carried out in two phases, the first of which will involve LIKE.
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.
It the recent filing dated March 6, 2025, Ekovest said the cost of construction of LIKE is estimated at RM2.32bil.
