KUALA LUMPUR: The Light Rail Transit Line 3 (LRT3) project has received the Government’s greenlight to continue at a total project cost of RM16.6bil, according to separate filings by Malaysian Resources Corp Bhd (MRCB) and George Kent (M) Bhd after the market closed on Wednesday.

Shares in the two companies shot up before the news broke out.

“Prasarana has via its letter dated Oct 16 to MRCB George Kent Sdn Bhd (MRCB-GK), informed that the Government has agreed to continue with the project at a total cost of RM16.6bil, including land acquisition costs, interest during construction and other costs,” the two companies said in the separate filings with Bursa Malaysia.

The companies said the implementation concept of the project will be remodelled from a project delivery partner (PDP) regime to a fixed price contract regime.

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