Business

Local SPV to bid for RM2.4b Bangladesh job, says Samy Vellu

February 01, 2013

KUALA LUMPUR, Feb 1 — A special purpose vehicle (SPV) comprising two Malaysian companies would be formed to undertake a RM2.4-billion development project in Bangladesh.

Special Envoy to India and South Asia Datuk Seri S. Samy Vellu (picture) said the SPV will sign two memoranda of agreement — one with the Bangladeshi government and another with the related companies in Bangladesh.

The development project will see the construction of 140 blocks of 16-storey flats in Uttara, a suburb north of Dhaka, Bangladesh’s capital.

“We have identified the two companies. Within the next two to three months, we would be signing the memoranda,” Samy Vellu told Bernama.

He also said that the final round of discussions on the RM6.6 billion Padma multi-purpose bridge project was being held in Bangladesh.

“We expect a very favourable answer soon,” Samy Vellu, who is a former works minister, said.

On India, he said Malaysia was currently in the final stage of submitting drawing plans to develop a 100-acre land in Andra Pradesh into a full-fledged town. If the proposals are approved, Samy Vellu said the project, valued at RM3 billion, will be a major milestone for Malaysian contractors.

“I have spoken to India’s Minister of Housing and Urban Poverty Alleviation. He was very interested with our plan and I am hopeful that it will be approved.”

Meanwhile, Samy Vellu said Malaysian contractors might also secure a 1,400 kilometre road construction project in South Sudan.

 He said the project will connect the nation’s capital — Juba, Ethiopia and Djibouti.

“I have received the blessings of Prime Minister Datuk Seri Najib Tun Razak to visit South Sudan. More details will be released once the project paper is finalised,” he added. — Bernama

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