Ekovest gets govt approval for RM6.3b highway

PETALING JAYA: Ekovest Bhd’s subsidiary Lebuhraya DUKE Fasa 2A Sdn Bhd (LDF2A) yesterday received approval in principle from the government for the privatisation of the Kampung Baru Link, Istana Link and Kapar Link Expressway for RM6.32 billion.
With a length of 75.2km, the proposed project is expected to provide vital connectivity and direct linkage in and around Kuala Lumpur city centre and completes the missing link for seamless travelling in and out of Greater Kuala Lumpur and Klang Valley.
“The estimated total project cost of RM6.32 billion for the proposed project is expected to be financed via a combination of internally generated funds, borrowings and/or other fund raising exercise,” Ekovest said in a stock exchange filing.
The proposed project is subject to further terms and conditions to be negotiated between the government and LDF2A and the principle approval by the government will not in any way be considered as binding upon the government until the execution of the actual agreement.