PETALING JAYA: The Penang Mega infrastructure project, which was awarded to Consortium Zenith Construction Sdn Bhd (CZC), is set to kick off in September this year following the certainty of funding.

Sources said Boon Siew Sdn Bhd, the privately held diversified group founded by the late Penang tycoon Tan Sri Loh Boon Siew, has acquired 22.92 acres of land from CZC at RM845 per square foot amounting to RM843.64mil.

“The land that the Boon Siew is buying is near the Gurney Drive area,” said a source.

According to a valuation report, the land near the Gurney Drive reclaimed area is close to RM1,000 per sq ft.

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