Latest news with #RM42.82
New Straits Times
22 minutes ago
- Business
- New Straits Times
Mutiara Line LRT physical works to begin in a month or two, says Loke
GEORGE TOWN: Physical works for the Mutiara Line light rail transit (LRT) project are expected to begin in a month or two. Transport Minister Anthony Loke said it would start with piling works. He said all necessary notices, including the Notice to Proceed with the project, had been issued to the relevant parties. "Penang does not need to wait anymore… everything is done. "All issues related to the Penang LRT project, between the federal government — particularly the ministry — and the state government, have been resolved properly. "I held a meeting with the Chief Minister (Chow Kon Yeow) at the ministry last month. All outstanding matters, including letters of release from the state government and other documents, have been settled," he said when met at the Rapid Penang headquarters in Lorong Kulit this afternoon. Elaborating further, Loke said even the main contractor had already awarded packages to subcontractors. "So, construction work will begin soon — in the next one or two months. We will start seeing physical works. "This includes preparatory works such as piling. We have also requested that, once piling and construction works begin, there must be a proper traffic diversion plan in place to avoid major disruptions, especially since traffic is already a challenge in Penang. "As with any construction project, there will be some diversions and an impact on road users. What we need to do is minimise that impact," he added. It was recently reported that Econpile Holdings Bhd's wholly-owned subsidiary, Econpile (M) Sdn Bhd, had secured a RM42.82 million contract from Irama Duta Sdn Bhd to carry out bored piling and related construction works as part of the LRT project.
New Straits Times
5 days ago
- Business
- New Straits Times
Econpile bags RM42.82mil piling contract for Penang LRT project
KUALA LUMPUR: Econpile Holdings Bhd's wholly-owned subsidiary, Econpile (M) Sdn Bhd has secured a RM42.82 million contract from Irama Duta Sdn Bhd to carry out bored piling and related construction works. In a filing with Bursa Malaysia, the company said the works are part of the Penang Light Rail Transit (LRT) Mutiara Line (MTL) – Package CMC1. "The project is expected to contribute positively to the company's revenue and earnings from the financial year ending June 30, 2026 onwards," it said, adding that the project is expected to commence on Aug 1, 2025, and the practical completion date is Oct 31, 2027. "There are no foreseeable significant risks other than operational risk associated with the project during the contract period. "The management would put in place control measures and operational procedures to reduce the impact or likelihood of such events," it added.
Barnama
5 days ago
- Business
- Barnama
Econpile Bags RM42.82 Mln Piling Contract For Penang LRT Project
KUALA LUMPUR, June 5 (Bernama) -- Econpile Holdings Bhd's wholly-owned subsidiary, Econpile (M) Sdn Bhd has secured a RM42.82 million contract from Irama Duta Sdn Bhd to carry out bored piling and related construction works. In a filing with Bursa Malaysia, the company said the works are part of the Penang Light Rail Transit (LRT) Mutiara Line (MTL) – Package CMC1. 'The project is expected to contribute positively to the company's revenue and earnings from the financial year ending June 30, 2026 onwards,' it said, adding that the project is expected to commence on Aug 1, 2025, and the practical completion date is Oct 31, 2027.
