To the joy of many Malaysians, the Light Rail Transit 3 (LRT3) project is back on track.
This route is set to benefit more than two million people with 20 stations, another five in the future and 22 sets of three-car trains. If this means less cars on the road in a couple of years, we're all for it!
According to Finance Minister Lim Guan Eng, the government will be funding most of the project
, which now costs RM16.63bil
, as opposed to the previous RM31.65bil. That's nearly half of the original cost!
"We will fund the project through loans and government guarantees, whereby the contractors will have the government's assurance in terms of payment when they participate in the project," Lim said, as reported by Bernama
Since Prasarana Malaysia Bhd is an entity under the Ministry of Finance, the company will approach the government whenever funds are needed.
"The savings of RM15.02 billion will allow a higher volume of users utilising the public transport as the price of tickets does not need to be too expensive," Lim added.
"It is redundant if a new and shiny public transport system is built but no users are on it because of the high fare as a result of inflated construction costs."
The new LRT3 route will connect Petaling Jaya and Klang. So residents in the area, look forward to it.
The project is scheduled for completion in February 2024