Even as it is being built today, the highly talked West Coast Expressway (WCE) as of now has a long history behind it.
In the previous 20 or so years, the WCE extend had experienced different stages – being retired and later being restored again – yet with quieted advancements pushing ahead.
Its arrangement, which is the second longest in Peninsular Malaysia, was mooted then in 1995 by Tan Sri Chan Ah Chye who built up Konsortium LPB Sdn Bhd (KLPB).
KLPB, which is today known as West Coast Expressway Sdn Bhd was the promoter of this parkway extend.
The WCE was granted to KLPB first in 1996 yet later must be racked because of the Asian Financial Crisis in 1997.
Following various years with no advancements on this front, the venture was restored again after a declaration in Oct 2002.
It was imagined to be finished in 2005 then by KLPB yet the whole venture had kept running into much further postponements because of subsidizing issues and potential shareholder changes.
KLPB's Chan and IJM Corp Bhd significantly controlled Kumpulan Europlus Bhd (KEuro) which is today known as WCE Holdings Bhd and KEuro has a 60% stake in KLPB.
The staying 40% in KLPB was initially held similarly by the state administrations of Selangor and Perak yet both governments had sold their interests in the organization.
After further dialogs and wrapping things up, the arrangement for the roadway was at long last concluded and fixed at end-2011 with government giving its official alright in the start of 2012.
The development works for the roadway at long last started in 2014 at a settled cost of RM5.04bil with land procurement costs at RM980mil.
The concession time frame, which was at first at 38 years when it was initially mooted, is presently at 50 years with a choice to stretch out by an additional 10 years.
No comments:
Post a Comment