support@kopiandproperty.com

Previous
Next

Advertisement Banner

PTMP: Reclamation alone is RM7 – RM8 billion

Yes, RM7- 8 billion is the estimation given for the reclamation of the two islands measuring 3,400 acres. Read here for the plan earlier: Penang is getting bigger, 3398 acres or even bigger?  This is as per SRS consortium, the Gamuda Bhd-led project delivery partner for Penang Transport Master Plan (PTMP). It’s project manager said the reclamation is to finance the RM27 billion PTMP and is expected to take off in 2018 once all approvals have been obtained. Another 800-acre island was also identified for future reclamation in future based on the state’s needs. In fact, the next thing on the agenda is a detailed environmental impact assessments for the road and rail-based public transportation segments, reclamation, and also feasibility studies. This would cost between RM300 million to RM400 million and would be borne by the state. Nope, this amount is definitely not going to be paid with cash.
Gamuda Engineering Sdn Bhd’s executive director, Szeto Wai Loong said that these two islands would have a total of 15 percent green space, 5km beach stretch, 25km coastal park, a 30 km-long waterfront, sheltered pedestrian walkways, and designated bicycle lanes. As for the currently popular lifestyle of a city within a city, these islands would also have MICE (Meetings, Incentives, Conferences and Exhibitions) centre, sports arena, museum, and performing arts centre. Meanwhile, according to the Penang State Local Government, Traffic Management and Flood Mitigation committee chairman Chow Kon Yeow, the PTMP would be funded by the proposed sale of reclaimed lands currently known as the South Reclamation Scheme.
As informed in an earlier report, the new Penang International Airport would also be built there. This ensures more space for industry expansion and having rooms to connect Penang to the world via air. As per reported also, the PTMP includes a proposed light rail transit from Komtar to Bayan Lepas, monorail from Komtar to Air Itam and Tanjung Bungah, e-bus across the North Channel, bus rapid transits on the mainland, and a 20km “spine road” connecting Tanjung Bungah to Penang International Airport, and Tun Dr Lim Chong Eu Expressway with tunnels through the hills. These plans are sure to get objections somehow and I think the state government just have to continue to be as transparent and upfront as possible. Keep announcing more details please. Happy anticipating Penangites.
written on 2 Dec 2015
Next suggested article: Penang: PTMP, new airport, catalyst till 2050

Property Investment always start with knowledge. Equip ourselves with more here.

Motion arrow towards right
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Motion arrow towards right
Share on facebook
Share on twitter
Share on linkedin
Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

Previous
Next

Advertisement Banner

Facebook Comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Table of Contents

Most Recent Posts

join the family

Like us for daily investment news and more

Hit the like