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Gamuda poised to win MRT 2 job

February 20, 2014

GAMUDA Bhd, the country's second largest builder, is poised to win the Mass Rapid Transit Two (MRT 2) contract, CIMB research said in a report.

Gamuda is the main contractor for MRT 1, and CIMB Research's rationale of banking on Gamuda to win the project is due to the company's track record.

The research house said Gamuda has a proven track record with its more than 300km of tunnelling experience locally and overseas.

"For MRT 2, we expect initial stages such as project structure, alignment display and prequalification rounds to begin this year, while awards are likely to be at end-2015 or early 2016," said CIMB Research.

The research house said Mass Rapid Transit Corporation Sdn Bhd reiterated that with the execution and rollout of the MRT Sungai Buloh-Kajang (SBK) line packages at the tail-end, it is prepared to execute MRT 2, pending the government's official "go-ahead".

Of the RM23 billion total estimated cost for the SBK Line under MRT 1, some RM21bil worth of packages have been awarded, while the remaining RM2 billion will be awarded over the next 12 months, CIMB Research said in the report.

"The July 2017 target for the entire 51km MRT line to be operational is still intact and should overlap with the execution of MRT 2."

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Source: Business Times (Malaysia)

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