WISE Toll Rates Won't Increase Unreasonably - Nanta Linggi
Anis
20-12-2024
According to Works Minister Datuk Seri Alexander Nanta Linggi, toll rates for the West Ipoh Span Expressway (WISE) project, which is anticipated to be finished in 2028 and connects Gopeng and Kuala Kangsar, will not be raised unreasonably. Instead, they will be set in accordance with current market rates to guarantee a fair valuation.
"The finalised estimated cost between the government and the concessionaire is based on current market rates to ensure a reasonable valuation.
“So, any changes to the scope of work involving increased construction costs must be borne entirely by the company as stipulated in the concession agreement," he said during a question-and-answer session in the Dewan Negara on Thursday (Dec 19).
Nanta emphasised that toll rates for a highway are established based on the concessionaire's proposed cash flow, which takes into account construction costs, traffic projections, operating costs, and maintenance. This was in response to a question posed by Senator Datuk Shamsuddin Abd Ghaffar about who was in charge of the highway's construction costs and how to guarantee that the toll rates would not burden users.
"All of these matters have been scrutinised and recommended by the Public-Private Partnership Unit (UKAS) before being brought to the Cabinet for consideration," he said.
With an estimated cost of RM6.2 billion, the WISE private finance initiative project consists of a 60.88km highway that connects Kuala Kangsar to Gopeng via Siputeh and Batu Gajah. It offers users of the Menora Tunnel, which was frequently congested by high numbers of heavy vehicles, another route.
Written By
Anis
Previously in banking and e commerce before she realized nothing makes her happier than a revving engine and gleaming tyres........
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