The association’s president, Oliver Wee, said the project’s completion and full implementation would lead to a multiplier effect for the sector, adding that this would be particularly crucial for smaller industry players.

“Many construction players and construction sub-sectors are waiting to return back to normal in terms of the volume of business.

“The project is currently already at an advanced stage. Without key mega projects, the recovery of the construction industry will be delayed at the expense of contractors’ survival,” he said.

Acknowledging that Putrajaya will review the details of the project to make savings as much as it can, Wee expressed confidence that it would not lead to delays as long as the government prioritised the review.

Prime Minister Anwar Ibrahim, in tabling the federal budget for 2023, said the government hoped to keep the project cost below RM45 billion.

The MRT3 mass rapid transit project, also known as the Circle Line, runs over a 50.8km circular alignment covering the perimeter of Kuala Lumpur. Work resumed last year after it was put on hold by the Pakatan Harapan government in 2018 and delayed further by the outbreak of the Covid-19 pandemic.

The Circle Line is slated to be fully operational by 2030, with the first phase set to begin operations in 2028.

Wee also called on the government to give incentives to developers and contractors who use the industrialised building system, in which houses are built according to specification in a factory for assembly on site later.

He said Putrajaya should consider providing stimulus packages to encourage investment in new property developments as developers were currently not keen on launching new projects.

Wee said the construction industry needed more assistance. Building material prices were uncertain and needed to be stabilised, and contract terms should be made fairer to protect parties against price fluctuations.