The government has agreed to the restructuring of four Klang Valley highway concessionaires. As part of the restructuring, the toll rates on the affected highways will not be raised. In fact, their toll rates will remain unchanged until the end of their concession period.
These concession companies and their respective highways are Kesas Sdn Bhd (Kesas Expressway), Syarikat Mengurus Air Banjir dan Terowong Sdn Bhd (SMART Tunnel), Sistem Penyuraian Trafik KL Barat Sdn Bhd (SPRINT Expressway), and Lingkaran Trans Kota Sdn Bhd (Damansara-Puchong Expressway). In a media statement, Works Minister Fadillah Tusof said that in exchange for not raising the toll rates periodically, the concession period themselves will be extended.
A private “not-for-profit” company called Amanat Lebuhraya Rakyat Bhd has offered to buy all of the four companies’ shares. That being said, the company does not get the exclusive right to determine the length of the concessions’ extension, which is subject to traffic volume and the government’s analysis from time to time.
ADVERTISEMENT
According to the statement, this restructuring will also reduce the compensation cost from 1 January 2022 until the end of the concession period. This will help the government save up to RM4.3 billion in toll subsidies.
(Source: Ministry of Works / Facebook)
Follow us on Instagram, Facebook, Twitter or Telegram for more updates and breaking news.
