Gamuda Consortium Secures RM8 Billion Contract for Penang LRT Project

    Published

    on

Gamuda’s SRS Consortium secures RM8.31 billion Penang LRT contract for a 24km stretch with 19 stations, aiming to ease Penang traffic congestion in six years.

Kuala Lumpur, 14th Jan 2025, 10.00am – Gamuda Bhd announced that its consortium, SRS Consortium Sdn Bhd, has been appointed as the main contractor for the first civil works package of the Penang Light Rail Transit (LRT) Mutiara Line. The package, valued at RM8.31 billion, involves constructing a 24km stretch from Komtar in George Town to Island A of the Penang South Reclamation, featuring 19 stations and related facilities.

Transport Minister Anthony Loke, speaking at the contract signing ceremony, said the project aims to ease Penang Island’s severe traffic congestion and expedite implementation. The contract has a ceiling of RM8.31 billion, and Gamuda has six years to complete the works after the notice to proceed is issued.

SRS Consortium is a joint venture in which Gamuda holds a 60% stake, with Loh Phoy Yen Holdings Sdn Bhd and Ideal Property Development Sdn Bhd each owning 20%. The project is overseen by Mass Rapid Transit Corporation Sdn Bhd, which serves as the developer and asset owner.

Future project phases include a second package connecting Macallum station in Georgetown to Penang Sentral station in Seberang Perai, with the tender to be called in July 2025 and the award expected by early next year. A third package is also in progress, with the tender deadline set for April 14, 2025.

When completed, the Penang LRT Mutiara Line will span 29.5km with 21 stations. However, land acquisition costs for the project remain under review, Loke said.

Join The Discussion

Compare listings

Compare