by NURUL SUHAIDI / pic by MUHD AMIN NAHARUL

THE Mass Rapid Transit 3 (MRT3) Circle Line Project has been priced at RM31 billion with final cost subject to open tenders and is set to complete its first phase development in 2028 and target for its full operation by 2030.

The project will be jointly funded by the government and private sector for some upfront cost. Some RM8.4 billion of the total cost has been earmarked for land acquisition and the government will likely pay RM8 billion worth of interest payments.

Transport Minister Datuk Seri Dr Wee Ka Siong (picture) said the project is the critical last piece to complete the Kuala Lumpur’s (KL) urban rail network which will enhance the public connectivity and seamless experience.

“Upon completion, the transit system network will further encourage public transport usage among the public,” he added.

Read more: YTL to benefit from possible revival of the HSR and MRT 3 projects

The construction works for MRT3 is subject to open tender which will be opened in May with MRT Corp appointed as the project developer and asset owner to oversee the project development with the project management consultant.

The project will be funded through the sukuk issuance by the government. Contractors on the project must obtain funding to begin construction works.

Each work package, particularly the system work package, will have its own private finance initiative criteria, the details of which will be made available by MRT Corp in due course.

The minister added that the project is based on “turnkey contract” and will be separated into five main packages comprising two turnkey contractors for elevated works, one turnkey contractor for underground works, one for integrated rail systems and one project management consultant to work alongside MRT Corp.

The Circle Line will be connected to existing MRT, Light Rail Transit, KTM Komuter and monorail lines through 10 interchange stations. One of the key interchanges is Titiwangsa, which will be a multi-modal hub integrating four rail lines and a city bus hub.

The MRT3 project will see the building of a 51km circular rail route on the outskirts of KL. It consists of a 40km long tiered alignment and an 11km underground route.

It will have 31 stations with 24 elevated stations and seven underground stations.

“The project will also provide work possibilities to local youth, particularly graduates of the technical and vocational education and training programmes to dabble in the rail industry,” Wee said.

MRT Corp CEO Datuk Mohd Zarif Hashim said the MRT3 project was the result of various studies and engagements over the past year following the government’s approval for MRT Corp to carry out technical studies in April last year.

“Last year, we shared several insights on how MRT3 would be designed. Our approach now is holistic and consistent with those design principles — alignment that delivers multiple benefits, high-value creation to the economy, utilisation of optimal cost and funding mechanism, and driving long-lasting residual value,” he said.

The MRT3 alignment will include connectivity to underserved areas of the city as well as the establishment of a multi-modal transit hub.

The project aims to scale up the capabilities of local companies, talents and improve the country’s socioeconomic growth.