Amirudin said that his administration has issued a letter of intent to the construction company after screening some 15 other firms, Bernama reported.

“MRCB was selected for its technical ability and financial standing. In fact, the company was involved in the restoration of the Bukit Jalil National Stadium in 2017,” he was quoted as saying.

Amirudin said the project would be carried out through a private-public partnership in which MRCB would fund the cost. In return, the company would be awarded a plot of land for development.

Work on the stadium, he said, would begin early next year for completion by 2026.

“The new stadium is inspired by the Ajax Amsterdam stadium,” he said, referring to the Johan Cruyff Arena. “It will be able to seat some 60,000 to 70,000 spectators.”

Amirudin said the 28-year-old stadium – which was opened in 1994 – was damaged by floods last year as well as in 2005 and 2015. It had cost RM400 million to build.