Penang CM confirms 3 islands project okayed by federal authorities
The PTMP will be pursued by SRS Consortium Sdn Bhd, a joint venture between Gamuda Bhd and Penang real estate development firms Loh Phoy Yen Holdings Sdn Bhd and Ideal Property Development Sdn Bhd.
(FMT) – Penang Chief Minister Chow Kon Yeow today confirmed that the three islands reclamation project has been approved by the federal authorities.
Speaking on the sidelines of the Taiwan Expo here, he said his office received a fax from the environment regulators yesterday, confirming that the project had been given the green light contingent on 72 conditions laid out for the state.
The project to reclaim the three islands, formally known as the Penang South Reclamation project, will measure nearly 17 sq km with islands measuring 9.3, 4.45 and 3.23 sq km to be reclaimed off the coast of Permatang Damar Laut, near Bayan Lepas.
The reclaimed land will belong to the Penang government but will be auctioned off to the highest bidder to finance the RM46 billion Penang Transport Master Plan (PTMP).
The PTMP envisions a series of highways, light rail transit lines and other modes of transport to be built in the next 20 to 30 years.
The PTMP will be pursued by SRS Consortium Sdn Bhd, a joint venture between Gamuda Bhd and Penang real estate development firms Loh Phoy Yen Holdings Sdn Bhd and Ideal Property Development Sdn Bhd.
