PARLIAMENT | Penang Chief Minister Chow Kon Yeow has asked the federal government for an RM1 billion loan to pay for two components of the Penang Transport Master Plan (PTMP).
"Although it is generally known that the federal government has financial constraints due to the country's high debts, the state government would like to borrow RM1 billion to pay for two initial main components of the PTMP," he said in his speech in Parliament today.
Chow noted that the two components are the Light Rail Transit alignment project from George Town to Bayan Lepas and the Penang Island Link 1 (PIL) from Gurney Drive to the Airport in Bayan Lepas.
"On the two projects, the main roads and undersea tunnel project which were hot issues in the past, we hope to obtain the necessary approval from the federal government so that the projects can be expedited," added the Tanjung MP.
Penang is pressing ahead with the RM27 billion PTMP, which will be funded by reclamation projects in the southern post, including the creation of three artificial islands.
The RM6.3 billion undersea tunnel and three road projects are also underway.
NGOs, including concerned citizen groups, have launched a petition to ask the state to cancel the PIL project as the EIA report, which is currently on public view, showed the possibility of the Penang Youth Park being destroyed.