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| Penang International Airport |
GEORGE TOWN: The government will adopt the private financing initiative (PFI) approach to continue with the upgrading and expansion work of the Penang International Airport in Bayan Lepas, near here.
Finance Minister Lim Guan Eng said financing by the private sector was required for the project to continue as it involved high costs and there would be no need to rely on the financial resources of the Federal government.
"I think in principle we will carry out the airport expansion project via private funding because the government is financially in dire straits. This project involves enormous funds.
“We want to expand the airport to such an extent where it can accommodate 16 million passengers at any one time.
"Through the PFI approach, we will raise more than RM1.2 billion but this will be done via open tender.
“We hope to begin the process this year and the successful bidder will be appointed by year-end," he told reporters after an event to commemorate World Women's Day here today.
Lim said the same method would be used for the proposed construction of an international airport in Kulim, Kedah.
"If we adopt the PFI approach, it will enable us to carry out the project more efficiently and save on government financial resources.
“We will try and use this model as much as possible for other international airports too so as not to involve excessive funding," Lim said.
The finance minister also said the initiative was in line with the government's desire to provide the best services to the people and at the same time attract more tourists and simultaneously boost the economy.
Source: Bernama | 3 March 2019
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