Business Times

KUMPULAN Europlus Bhd said its unit has signed a contract with the Government to build and manage the West Coast Expressway for 33 years at a cost of RM3.02 billion.

The highway spans 215.8km and it will connect the North-South Expressway in Taiping, Perak, to Banting in Selangor, KEuro said in a statement to Bursa Malaysia.

The concession is under Konsortium LPB Sdn Bhd (KLPB), which is 60 per cent owned by KEuro, while the rest is equally shared between Kumpulan Darul Ehsan Bhd and Perak Corp Bhd.

The highway will have 14 toll plazas and 16 interchanges. There will be six toll plazas and seven interchanges in Perak and eight toll plazas and nine interchanges in Selangor.

It will also have 10 rest and service areas and two lay-bys.

Under the deal, KLPB must be able to raise funds to build the Selangor portion by May 25 2008. Funds for the Perak highway must be raised by May 25 2010.

However, KEuro did not give a breakdown of how much the two portions would cost.

KLPB would start construction after it completes fundraising and work for the Selangor portion must be completed in three years.

Work for the Perak portion must be completed in four years after it raises money.