Ahmad Zaki Resources Bhd finally got the nod to go
ahead with the construction of the East Klang Valley Expressway
But the 1.55 billion ringgit ($501.54 mln) highway
connecting the Silk Highway in Kajang to the Karak Expressway in
Gombak will be built with a government loan of 635 million
ringgit ($205.47 mln).
In an announcement on Wednesday, AZRB said it had entered
into a concession agreement with the government for the design,
construction, completion, operation, management and maintenance
of the EKVE for a period of 50 years.
"The government agreed to provide the company with a loan
for a maximum principal amount of 635 million ringgit at an
interest rate of four percent per annum, capitalised annually,
subject to a separate agreement to be entered into between the
government and the company," it said -The Edge.
NOTE: Reuters has not verified these stories and does not
vouch for their accuracy.
($1 = 3.0905 Malaysian ringgit)