No cost overruns for Klang Valley MRT line 1 project

by **Cals** Thu 10 Oct 2013, 17:30

Business & Markets 2013

Written by Bernama

Thursday, 10 October 2013 16:39

KUALA LUMPUR (Oct 10): The Klang Valley Mass Rapid Transit (KVMRT) Line 1 linking Sungai Buloh to Kajang is progressing well with
no cost overruns.
GAMUDA BHD [] Group Managing Director Datuk Lin Yun Ling said by year-end, it is projected that the underground section of the Line 1 would be 50 per cent complete.
Gamuda and MMC CORPORATION BHD [] formed a 50:50 joint venture as the delivery partner and underground works contractor for the KVMRT project.
"The underground and elevated works are progressing well and on track for completion. We have not seen any major cost overruns," Lin told a media briefing following a worksite visit to the Cochrane launch shaft here by former Prime Minister Tun Dr Mahathir Mohamad.
During the visit, Dr Mahathir was taken on a tour of the Cochrane site, including a guided tour of the Variable Density Tunnel Boring Machine (VD-TBM), which is in operation there with some 700 metres of tunnel completed.
The VD-TBM is equipped with leading edge TECHNOLOGY [], which does not destabilise the ground or cause the surface to sink, unlike a conventional machine.
Dr Mahathir said the government's policy of prioritising local contractors for national CONSTRUCTION [] projects should continue, as it had brought cost savings and socio-economic benefits to the country.
"The government's privatisation policy which offers opportunities for local companies has paid off well. Now, Malaysian companies have the same capacity, as foreign expertise," he added.
On the issue of the government favouring bumiputera participation in the economy, he said it was to ensure equity in distribution, while avoiding resentment and tension.
"In the construction industry it is important to have a racial balance. In the long run, as a result of this stability, it will enable Malaysia to achieve the Vision 2020 goals," he said.