PJD Link secures RM922 mil funding, inks deal for contractor
Concessionaire to now move forward with remaining financing phases, says CEO
KUALA LUMPUR – PJD Link (M) Sdn Bhd (PJD Link) has secured RM922 million in funding as part of its project financing required for the Petaling Jaya Dispersal Link (PJD Link Expressway).
In a statement today, PJD Link chief executive officer Amrish Hari Narayanan said it is now able to move forward with the remaining phases of its project finance, which include raising the remaining portion of the project costs via the sukuk market.
“The capacity to finance the project is one of the conditions precedent under the concession agreement, in addition to obtaining approvals for the social, environmental, and traffic impact reports,” he said.
PJD Link is the concessionaire of the proposed PJD Link Expressway, a 25.4km, two-lane dual carriageway (four-lane) expressway that commences after the NKVE toll plaza on SPRINT Highway, Damansara. It ends at the Bukit Jalil highway interchange.
The project is aimed at improving traffic congestion and caters to future vehicle growth in the greater Kuala Lumpur and Klang Valley area. PJD Link signed a concession agreement with the Malaysian government on April 5, 2022.
In the same statement, PJD Link also said that it has signed a heads of agreement with MCC Overseas (M) Sdn Bhd (MCC Malaysia) to appoint MCC Malaysia as PJD Link Expressway’s engineering, procurement, and construction contractor.
The signing ceremony was witnessed by MCC International Incorporation Ltd president Yang Roubing, the Macau government, China International Contractors Association members, and Scomi Energy Services Bhd chief executive officer Amirul Baharom at the 14th International Infrastructure Investment and Construction Forum in Macau on June 1, 2023.
MCC Malaysia is a subsidiary of China Metallurgical Group Corporation, a construction engineering conglomerate listed on the Shanghai and Hong Kong stock exchanges.
– Bernama, June 6, 2023