PJD Link (M) Sdn Bhd, the concessionaire for the project, announced today that it has signed a heads of agreement (HoA) for the financing facility with MCC Overseas (M) Sdn Bhd (MCC Malaysia), a subsidiary of China Metallurgical Group Corporation (MCC Group).

The deal was inked during the 14th International Infrastructure Investment and Construction Forum (IIICF) co-hosted by the China International Contractors Association and the Macao Trade and Investment Promotion Institute in Macao on June 1.

Among those who witnessed the signing of the HoA were MCC International Incorporation Ltd president Yang Roubing, representatives of the Macao government, key members of the China International Contractors Association and Scomi Energy Services Bhd CEO Amirul Baharom.

“We are now able to move forward with the remaining phases of our project finance, which include raising the remaining portion of the project costs via the sukuk market,” PJD Link CEO Amrish Hari Narayanan said in a statement today.

“The capacity to finance the project is one of the conditions precedent under the concession agreement, in addition to obtaining approvals for the social, environmental and traffic impact reports,” he added.

Under the deal, MCC Malaysia will be the engineering, procurement and construction contractor for the project.

The PJD Link Expressway will connect the north of Petaling Jaya with the south and along the way will pass through Petaling Jaya Utara, Bandar Utama, Taman Tun Dr Ismail, Petaling Jaya city centre, Taman Dato’ Harun, Taman Medan Baru, Taman Sri Manja, Bandar Kinrara and Bukit Jalil Technology Park.

The project was launched with the objective to ease traffic congestion and to cater to future traffic growth in the Greater Kuala Lumpur and Klang Valley area.

The concession agreement for the project was signed with the government on April 5, 2022.