News Coverage
News Coverage
DanaInfra kicks off RM50bil Islamic debt programme to fund MRT projects
The Star Online, 26 October 2015
KUALA LUMPUR: DanaInfra Nasional Bhd (DanaInfra), the Government’s special funding vehicle for infrastructure projects, has kicked off a financing programme to raise up to RM50bil to fund the Mass Rapid Transit (MRT) projects.
DanaInfra said in a statement that the programme, in the form of Islamic commercial papers and/or Islamic medium-term notes (ICP/IMTN programme) of up to RM50bil, was fully guaranteed by the Government.
This consolidates its funding programme for the MRT Sungai Buloh-Kajang (MRT-SBK) Line 1 and the new MRT Sungai-Buloh-Serdang-Putrajaya (MRT-SSP) Line 2.
DanaInfra said the MRT Line 2’s project cost was estimated to be up to RM42bil. It was reported that construction cost, excluding land acquisition cost and consultancy fees, would be RM28bil.
DanaInfra said AmInvestment Bank Bhd, CIMB Investment Bank Bhd, Maybank Investment Bank Bhd and RHB Investment Bank Bhd act as the joint lead arrangers and joint lead managers for the financing programme.
Affin Hwang Investment Bank Bhd, Hong Leong Islamic Bank Bhd and HSBC Bank Bhd are the joint lead managers.
MRT Line 2’s construction will start in 2016 and is expected to complete in 2022. With a total length of 52.2km and 36 stations, it will be able to accommodate 529,000 passengers daily.
The project delivery partner of both MRT Line 1 and Line 2 is a joint-venture between MMC Corp Bhd and Gamuda Bhd.
MMC gained 1 sen to RM2.27 at Monday’s close while Gamuda shed 10 sen to RM4.62.