KUALA LUMPUR: SRS Consortium Sdn Bhd has secured the civil and structural works contract for the first segment of Penang's inaugural Light Rail Transit (LRT) project.
The joint venture consortium is 60% owned by Gamuda Bhd, with Loh Phoy Yen Holdings Sdn Bhd and Ideal Property Development Sdn Bhd each holding a 20% stake.
Under the contract, SRS Consortium serves as the main contractor for civil and structural works for the initial segment of the LRT Mutiara Line, stretching from Penang South Reclamation Island-A (PSR-A) to Komtar.
Mass Rapid Transit Corporation Sdn Bhd (MRT Corp), the project developer and asset owner of the LRT Mutiara Line, signed an agreement with SRS Consortium for the Civil Main Contract 1.
MRT Corp was represented by Chief Executive Officer Datuk Mohd Zarif Hashim, while the Deputy Group Managing Director of Gamuda signed on behalf of SRS Consortium.
The signing ceremony took place at Menara I&P on Monday (Jan 13) and was witnessed by Transport Minister Anthony Loke, MOT Secretary-General Datuk Jana Santhiran Muniayan, and MRT Corp Chairman Tan Sri Dr Bashir Ahmad Abdul Majid.
The consortium was previously appointed by the Penang State Government as the Project Delivery Partner for the Penang Transport Master Plan in 2015.
