PLUS: Concession agreements end in 2038, not 2018

PLUS: Concession agreements end in 2038, not 2018

PLUS Malaysia Bhd says concession agreements for Batu Tiga and Sungai Rasau toll plazas were restructured in 2011 following the company's privatisation.

plus
KUALA LUMPUR:
PLUS Malaysia Bhd (PLUS) has clarified that based on the 2011 revised concession agreement, toll collection at the Batu Tiga and Sungai Rasau toll plazas in Selangor, are scheduled to end on Dec 31, 2038 and not 2018.

In a statement today, it said the announcement by Prime Minister Najib Razak when tabling Budget 2018 yesterday, meant the abolishment of toll collection effective Jan 1, 2018 at the two toll plazas was being realised 20 years ahead of schedule.

“The 2011 concession agreement, which was restructured following the privatisation of PLUS in the same year, saw toll collection being harmonised on all toll plazas under the purview of PLUS, and this includes Batu Tiga and Sungai Rasau.

“In addition, no toll increase was implemented by the government and/or PLUS on all its highways since 2005,” it added.

There has been several enquiries on compensation for PLUS, with the abolishment of toll collection at the three locations, Bukit Kayu Hitam in Kedah being the other location, it said.

“As discussions are ongoing, we will make the necessary announcements upon receipt of further details from the government,” PLUS added.

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

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