Malaysia’s West Coast Expressway company has reported that it will inject nearly US$425 million into its West Coast Expressway project.
Total cost of the West Coast Expressway, which will stretch 233km between Banting in Selangor state and Taiping in Perak state on the Malaysian peninsula, is expected to be around $1.56 billion.
The highway will be built over five years as a build-operate-transfer project with a concession of 50 years, The Star newspaper reported in February 2014.
West Coast Expressway is a joint venture of Road Builder (M) Holdings, part of the infrastructure business5375 IJM, and 4213 Kumpulan Europlus, in which IJM has a 25.1% stake.
West Coast said another $265 million will be sourced from sales of Islamic medium-term notes to RHB Investment Bank and Bank Pembangunan Malaysia.
The joint venture also reported that it had secured a syndicated loan worth around $398 million from Malayan Banking (Maybank), RHB Bank and RHB Investment Bank, as well as a government support credit facility valued at nearly $593 million.
In May, West Coast Expressway awarded a construction subcontract to another joint venture, consisting of WZ Satu and Laksana Amanbina, to build a 28km stretch of the Expressway. Total cost is nearly $132 million for the section running from Kampung Lekir Interchange to Changkat Cermin Interchange.
“The scope of works consist of construction of dual two carriageways and associate works comprise interchanges, roads and river bridges, culverts and drains. The project is expected to be completed within 39 months,” said WZ Satu.
Total cost of the West Coast Expressway, which will stretch 233km between Banting in Selangor state and Taiping in Perak state on the Malaysian peninsula, is expected to be around $1.56 billion.
The highway will be built over five years as a build-operate-transfer project with a concession of 50 years, The Star newspaper reported in February 2014.
West Coast Expressway is a joint venture of Road Builder (M) Holdings, part of the infrastructure business
West Coast said another $265 million will be sourced from sales of Islamic medium-term notes to RHB Investment Bank and Bank Pembangunan Malaysia.
The joint venture also reported that it had secured a syndicated loan worth around $398 million from Malayan Banking (Maybank), RHB Bank and RHB Investment Bank, as well as a government support credit facility valued at nearly $593 million.
In May, West Coast Expressway awarded a construction subcontract to another joint venture, consisting of WZ Satu and Laksana Amanbina, to build a 28km stretch of the Expressway. Total cost is nearly $132 million for the section running from Kampung Lekir Interchange to Changkat Cermin Interchange.
“The scope of works consist of construction of dual two carriageways and associate works comprise interchanges, roads and river bridges, culverts and drains. The project is expected to be completed within 39 months,” said WZ Satu.
