LTAK PROJECT FINANCED BY PRIVATE SECTOR - AZMIN

KUALA LUMPUR,March 21 (Bernama) -- The Kulim International Airport project (LTAK) estimated to be worth RM1.6 billion will be financed by the private sector, said Economic Affairs Minister Datuk Seri Mohamed Azmin Ali.

He said the country's financial situation currently required a more active participation by the private sector to implement various development projects.

“Under the current economic situation, we need a more active participation from the private sector. The government does not have the funds to develop the activities, but the private sector's participation is most needed in this matter,” he told reporters at the Parliament lobby, today.

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He disclosed this when asked to comment on the construction of LTAK which involves a high cost. 

He said the LTAK project was among seven high impact projects and programmes approved by the federal government in Kedah which would complement existing facilities available in the state and thus enhance development in the Northern Corridor Economic Region (NCER).

Meanwhile, Finance Minister Lim Guan Eng said the willingness of the private sector to invest in the construction and expansion of the international airports in Kedah and Penang showed the increased confidence of the private sector in the government.

He said investment via the private finance initiative (PFI) for the construction of LTAK and the expansion of the Penang International Airport (LTAPP) in Bayan Lepas was a positive move.

"If there are private sectors willing to invest in the construction of the two international airports, I feel there should be no problem and in fact it would be a good move as they would act as the catalyst in economic growth and create job opportunities,”he said.

Meanwhile, when asked to comment on the appointment of Tun Daim Zainuddin as the Prime Minister's Special Envoy to China for the process of renegotiating the East Coast Railway Line (ECRL), Lim said it was most appropriate.

He said the process was complicated and needed full concentration.

"We should be thankful to Tun Daim because if we were to renegotiate such a massive and complicated contract, it is a full time job. To involve me if I were chosen, where would I find the time to do other work,”he said adding that Daim was an experienced and capable person.

-- BERNAMA