Gov't says 45% of LRT3 contracts worth RM9b will be awarded to bumiputra companies

29 Mar 2017 / 20:30 H.

KUALA LUMPUR: The government has announced that 45% of the Light Rail Transit 3 (LRT3) contracts worth RM9 billion would be awarded to bumiputra companies through the "carve out and compete" concept.
Prime Minister Datuk Seri Najib Abdul Razak said the eligible companies had to compete among themselves based on merit.
"It (contracts) is not being randomly awarded and they (bumiputra companies) must prove their ability and consideration will be given based on merit," he said after chairing the bumiputra Economic Action Council here today.
He also said the overall package had been carefully detailed, encompassing civil works and systems.
It includes bridges and buildings for parking involving nine packages, underground tunnels (one), car depot (two), bus depot (three), works systems, and supply of construction materials among others.
Najib said bumiputra contractors from G2 to G7 under the CIDB had the opportunity to participate in the four key categories.
He said the Pan Borneo Sarawak Highway project had also been allocated RM8 billion or 53% of its overall value to bumiputra companies.
"I am made to understand that the 'carve out and compete' initiative has succeeded in creating an overall value of RM50.8 billion through various mega projects identified.
"With such an initiative, we hope to see more bumiputra entrepreneurs throughout the country continue to progress and effectively compete,' he added.
Najib had earlier witnessed the handing over of a RM5 million replica cheque which was for an additional allocation to the bumiputra Dealers Representatives Education Fund (BDREF), aimed at producing 100 more capital market specialists of international calibre.
The injection, a contribution from the Capital Market Development Fund is also targeted at training 1,000 bumiputra traders representatives through short term courses courses in analysing fundamentals and technicalities to prepare them to compete on the international stage. — Bernama

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