The Penang Transport Master Plan (PTMP) proposed by the state-appointed project delivery partner SRS Consortium, cost approximately RM46 billion, said state executive councillor Chow Kon Yeow.

SRS’ proposal includes a railway and highway network (RM39 billion), three major roads and undersea tunnel (RM6.4 billion), which will be fully completed in 2030, he added.

SRS is made up of Gamuda (60 percent stake), Ideal Property Development Sdn Bhd (20 percent) and Loh Phoy Yen Sdn Bhd (20 percent)...