The cost of the Mutiara Line Light Rail Transit (LRT) project in Penang has jumped to RM16.8 billion following land acquisition costs, global inflation and the extension of the line to Seberang Perai.
MRT Corp said in a statement that the original estimate in 2016 was only RM10 billion with the line from Silicon Island to Komtar.
However, the Federal Government's decision earlier this year to extend the line to Penang Sentral in Butterworth has increased the overall cost of the project.
Of this amount, RM2 billion is allocated for land acquisition, while the main contract worth RM7.93 billion was awarded to SRS Consortium after a cost reassessment process.
The 29.5-kilometre line with 21 stations is expected to be completed by 2031, while three additional lines are planned to be fully completed by 2050.
MRT Corp Chief Executive Officer, Datuk Mohd Zarif Hashim stressed that his party is striving to ensure that the Mutiara Line LRT becomes the most affordable LRT system in Malaysia in accordance with the allocation that has been invested.
