Ekovest Gets Green Light for LIKE and KBL Expressway Projects
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Ekovest Bhd has received federal approval to proceed with the long-pending privatisation of two urban expressway projects — the Laluan Istana-Kiara Expressway (LIKE) and the Kampung Baru Link Expressway (KBL) — as part of its broader highway expansion initiative.
In a filing with Bursa Malaysia, the company announced that its wholly-owned subsidiary, Lebuhraya DUKE Fasa 2A Sdn Bhd (LDF2A), was formally notified of the approval on Monday (May 5).
The projects, originally proposed over eight years ago, will be developed in two phases, beginning with the LIKE alignment.
The first phase will see the government and LDF2A proceed to sign the concession agreement for LIKE once it has been vetted and cleared by the Attorney-General’s Chambers.
The second phase, involving KBL, will see LDF2A working with the Public-Private Partnership Unit and relevant ministries to finalise key terms of the concession. This is targeted to be completed by 31 Dec 2026.
The proposed expressway developments were initially disclosed in Jan 2017, when Ekovest received in-principle approval from the government to privatise LIKE, KBL and the Kapar Link Expressway - collectively spanning 75.2 KM.
Source: The Star
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