MRT Corp disputes claims of ‘uncontrolled’ cost increase for Penang LRT line
MRT Corp today dismissed claims of an uncontrolled escalation in costs for the Mutiara Line LRT project in Penang, providing a breakdown of the figures involved in its revised budget ceiling of RM16.8 billion.
Acknowledging the initial estimated cost of RM10 billion in 2016, it said the project, known then as the Penang LRT Bayan Lepas project, only spanned from Silicon Island to Komtar at the time.
It said the project cost was increased to RM13 billion after it was taken over by the federal government in 2024, with an extended alignment from Macallum to Penang Sentral.
The budget was further revised to RM16.8 billion in December 2024, with MRT Corp mandated to keep the cost lower, it said.
In a statement, it said a conditional contract valued at RM8.31 billion was awarded to SRS Consortium…
