The West Ipoh Span Expressway (WISE) has secured RM5.55 billion in funding, said Perak menteri besar Datuk Seri Saarani Mohamad, reported Recent Straits Times.
“I received the newest update from WISE representatives. They said that they’ve already secured funding from Hong Leong Bank. I understand that work related to land acquisition has already began,” the Perak menteri besar said.
“Previously, we said the project was held up because that they had not secured a funder. Now that the funding issue has been resolved and the sukuk has been issued, based on the report we have now, I believe the project can proceed,” he continued.
In November 2024, the WISE was reported to be planned for a length of 60.88 km from Gopeng to Kuala Kangsar, bypassing the PLUS North South Highway’s Menora Tunnel. This was estimated on the time to cost RM6.2 billion, in response to project concessionaire East Coast Road (ECR).
Because the project is a non-public finance initiative (PFI), the federal government will bear no cost and public funds won’t be used. On the time, the toll rate for the WISE project was said to be 23 sen per km over the complete 55-year concession period, which incorporates the four-year construction period.
The Perak state government approved the proposal for the bypass road in 2022, which can be described as an effort to cut back the danger of deadly accidents.
The WISE project faced several delays because it was approved by the Cabinet in 2023, on account of financing issues and other conditions that needed to be fulfilled before construction could begin, in response to the report.
This Article First Appeared At paultan.org
