KUALA LUMPUR: Construction and property development company Varia Bhd has signed a memorandum of understanding (MoU) with Sungai Klang Link Sdn Bhd (SKL) to embark on the Sungai Klang Link Elevated Highway Project.
In a statement today, its managing director, Datuk Benson Lau, said the collaboration is not just a testament to the company’s commitment to enhancing Malaysia’s urban infrastructure but also an opportunity to set new benchmarks in construction and design excellence.
“By combining our rich expertise in innovative construction solutions with our dedication to sustainable development, we are poised to deliver a project that will significantly ease traffic flow, improve connectivity, and contribute to the economic growth of the Klang Valley.
“We look forward to the positive changes this project will bring to the community and the environment,” he said.
Varia said SKL, a special-purpose vehicle, has been actively engaged since 2019 in securing a concession agreement from the government for the right to build, manage, own, and operate the highway.
“The proposed highway, spanning approximately 52.5 kilometres along the Klang River, is set to integrate seamlessly with existing highway networks through seven proposed interchanges, providing an essential alternative route for road users in the region,” it added.
Varia added that the highway project has garnered substantial support from various government departments and local authorities and is now at an advanced stage of securing final approval from the government.
As of 5 pm, March 8, 2024, Varia’s share price is 89 sen with a market capitalisation of RM371.1 million, while the group’s order book remained strong at RM1.1 billion. -
