KUALA LUMPUR: The civil and structural works contract for the first segment of Penang’s first Light Rail Transit (LRT) project which was awarded to the Gamuda Bhd-led SRS Consortium Sdn Bhd (SRS Consortium) could cost up to RM8.31bil, says Transport Minister Anthony Loke.
The cost could also be subject to further revisions.
“In March 2024, the Federal Government agreed to take over the LRT Mutiara project from the Penang state government and appointed Mass Rapid Transit Corporation Sdn Bhd (MRT Corp) as the project developer and asset owner following a cabinet approval,” he told reporters at a press conference after the contract signing ceremony at Menara I&P here on Monday (Jan 13).
Loke said the federal government offered the contract to SRS Consortium through the “Single Sourcing Request-for-proposal” mechanism.
Loke clarified that the contract was not given through direct award as the consortium had undergone the open tender process in 2015 for the Penang Transport Master Plan (PTMP) project.
He said this is also why Putrajaya decided to proceed with the tender decision, adding that additional processes were carried out to look into the cost and scope.
“The cabinet decision is not merely a financing commitment but an affirmation of the federal government’s determination in ensuring that Penang benefits from the necessary financial and technical support to carry out this meaningful project,” he said.
The LRT project comprised three tender packages.
The request for tender for the second Civil Main Contract will be opened in July 2025.
SRS Consortium Sdn Bhd (SRS Consortium) and MRT Corp inked the Civil Main Contract 1 on Monday.
Under the contract, SRS Consortium is the main contractor for civil and structural works for the first segment of the LRT Mutiara Line project, which spans from Penang South Reclamation Island -A (PSR-A) to Komtar and covering 24km.
MRT Corp was represented by Chief Executive Officer, Datuk Mohd Zarif Hashim while Gamuda Deputy Group Managing Director Datuk Ha Tiing Ta signed on behalf of SRS Consortium.
The signing ceremony was witnessed by Transport Minister Loke, Transport Ministry secretary-general Datuk Jana Santhiran Muniayan and MRT Corp chairman Tan Sri Dr. Bashir Ahmad Abdul Majid.
The consortium is 60% owned by Gamuda Bhd with Loh Phoy Yen Holdings Sdn Bhd, and Ideal Property Development Sdn Bhd holding a 20% stake each,
The consortium previously was appointed by the Penang state government as the Project Delivery Partner for the Penang Transport Master Plan in 2015.
