PLUS open to freeway concession takeover from gov’t

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Freeway concessionaire PLUS says it’s prepared to evaluate the concession agreements ought to the federal government wish to take over PLUS-operated tolled highways. In keeping with its MD Datuk Azman Ismail, PLUS is open to a toll concession takeover by the federal government, as Bernama experiences.

“We’re a concession firm and we have now signed agreements with the federal government. If the federal government desires to alter (the agreements), we’ll have a look at it (proposal), in accordance with the settlement. We simply have to attend what the federal government has to supply,” he stated in response to a query posed over the matter.

The concessionaire is the expressway arm of UEM Group, which is a subsidiary of Khazanah. Each UEM and Khazanah collectively maintain a 51% share in PLUS, with the rest owned by the Workers Provident Fund (EPF). Beforehand, Khazanah stated it could go away it to PLUS to deal with discussions if there was a proposal by the federal government to take over its toll expressways, however would advise PLUS on occasion.

The query a couple of potential takeover for PLUS comes after final week’s resolution by the federal government to take over 4 concessions of toll highways, particularly the Lebuhraya Damansara-Puchong (LDP), Sistem Penyuraian Trafik KL Barat (Dash), Shah Alam Expressway (Kesas) and the Good Tunnel, to the tune of RM6.2 billion.

Whereas not eliminating tolls utterly on the 4 routes, finance minister Lim Guan Eng stated commuters utilizing these 4 highways will save as a lot as RM180 million yearly within the swap to a congestion cost system. He added that the transfer can be set to avoid wasting taxpayers RM5.three billion in compensation to the concessionaires.

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The put up PLUS open to freeway concession takeover from gov’t appeared first on Paul Tan’s Automotive Information.


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