DanaInfra to raise RM50b for MRT line 1 and 2

FMT News, 26 October 2015

The government’s special purpose vehicle's financing programme is in the form of Islamic Commercial Papers or Islamic Medium-Term Notes and is fully guaranteed by government.

KUALA LUMPUR: DanaInfra Nasional Bhd (DanaInfra) will start a cohesive funding programme of up to RM50 billion for Line 1 of the Mass Rapid Transit Project Sungai Buloh-Kajang (MRT-SBK) and Line 2 of the MRT Sungai-Buloh-Serdang-Putrajaya (MRT-SSP) project.

DanaInfra is the government’s special purpose vehicle established to facilitate the funding of large infrastructure projects undertaken by the government.

In a statement today, DanaInfra said so far, the group had raised up to RM17.6 billion to fund the construction of MRT Line 1.

“It will utilise funds raised from the RM50 billion financing programme for the remaining MRT Line 1 and the new MRT Line 2,” said the group.

The estimated project cost for MRT Line 2 is up to RM42 billion.

The financing programme is in the form of Islamic Commercial Papers or Islamic MediumTerm Notes and is fully guaranteed by government.

AmInvestment Bank Bhd, CIMB Investment Bank Bhd, Maybank Investment Bank Bhd and RHB Investment Bank Bhd are the joint lead arrangers and joint lead managers for this financing programme.

Affin Hwang Investment Bank Bhd, Hong Leong Islamic Bank Bhd and HSBC Bank Bhd are the joint lead managers.

The construction of MRT Line 2 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.

– BERNAMA

(Web source: http://www.freemalaysiatoday.com/category/nation/2015/10/26/danainfra-to-raise-rm50b-for-mrt-line-1-and-2/)