PLUS to conclude talks on toll rates by June

PLUS to conclude talks on toll rates by June

Under the concession agreement, PLUS can review rates every three years, for the entire duration of the concession which ends in December 2038.

Izzaddin-Idris_plus_tol_600

KUALA LUMPUR:
PLUS Malaysia Bhd hopes to submit a proposal and conclude discussions with the government on toll rates by June, says UEM Group Bhd Group Managing Director and Chief Executive Officer Izzaddin Idris.

PLUS, the expressway arm of UEM Group, has five highway concessions – the PLUS expressways (North-South Expressway (NSE), New Klang Valley Expressway (NKVE), Federal Highway Route 2 (FHR2), Seremban Port-Dickson Highway), North-South Expressway Central Link (NSECL), Malaysia-Singapore Second Link (MSSL), Butterworth-Kulim Expressway (BKE) and the Penang Bridge.

Speaking at a press conference after UEM Group’s 50th anniversary celebration here today, Izzadin, however, said discussions were at the preliminary stage.

Under the concession agreement, PLUS can review rates every three years for the entire duration of the concession which ends in December 2038.

Meanwhile, when asked on the outcome of the tender for the Pan Borneo Highway, Izzadin said an announcement would be made soon.

The UEM Group teamed up with MMC Corp and a Sabah company to tender for the Sabah component of the project.

– BERNAMA

Stay current - Follow FMT on WhatsApp, Google news and Telegram

Subscribe to our newsletter and get news delivered to your mailbox.