Penang CM stands by PTMP despite criticism

GEORGE TOWN: Penang has defended it's RM46 billion proposed Penang Transport Masterplan despite continuous criticism by civil society led by Penang Forum members.
In a statement, Chief Minister Chow Kon Yeow said that the state has taken a highly balanced approach to ensure all stakeholders of Penang benefit in the implementation of the multi-facet project.
The project which spans over two decades calls for firstly a reclamation of land off Bayan Lepas to help fund the cost of building an LRT line and road networks.
The project delivery partner - the Southern Reclamation (SRS) Consortium Sdn Bhd, would plan, construct and manage facets of the masterplan.
The SRS Consortium comprises namely publicly-listed Gamuda Berhad (60%), and Penang-based Loh Phoy Yen Holdings Sdn Bhd (20%) and Ideal Property Development Sdn Bhd (20%).
Chow told the forum that most importantly, the public coffers would not be unduly burdened by the project, and the rakyat would receive crucial transport infrastructure in the form of the Bayan Lepas LRT within several years.
"Penang would also witness continuing vibrant economic growth via the new lands provided via reclamation; transforming Penang into a vibrant globally inter-connected Smart City of the future, whilst still retaining the heritage and cultural values of fishermen of South Penang," he stressed.
Chow said that he welcomes an open dialogue over the issue but stressed that the state has conducted various studies to ensure that there would not be a drastic effect on the environment or the inhabitants along the affected areas.
He also said that the state continues to engage various stakeholders over the matter, adding that unlike other mega infrastructure projects, the one here has a different business model and funding system.
It was not meant to burden the public taxpayers, he noted.