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Flash Note – MRCB (BUY, maintain) - LOI for KVDT job?




Affin Hwang Investment Bank Bhd


20 Mar 2013





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Press report said MRCB JV received Letter of Intent for RM850m KVDT job According to a local press report, the MRCB-DMIA joint venture has received a Letter of Intent from the government to upgrade the Klang Valley Double- Tracking (KVDT) system for around RM850m. The report added that the scope of works has not been clearly defined as a study on the KVDT system upgrade has not yet been completed. The KVDT system was built in the 1990s and involves 150km of double tracking for Rawang to Seremban and Port Klang to Sentul. The proposed upgrade would help to divert cargo traffic from the main KTM line between Rawang and Seremban and also provide an alternative mode of transport for commuters. Earlier reports said a comprehensive KVDT upgrade would cost about RM5bn, including a 110km bypass line from Serendah to Port Klang costing about RM2bn.

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