MRCB, partner get monorail LOI

THE Malaysian Resources Corp Bhd (MRCB)/Penang Port consortium has been issued a Letter of Intent (LOI) for the Penang Monorail project, Syarikat Prasarana Negara Bhd (Prasarana) said yesterday.The Penang Port consortium members comprise Penang Ports Sdn Bhd and Scomi Group subsidiary MTrans Transportation Systems Sdn Bhd.In a statement, Prasarana said Request for Proposals were issued to six proponents who had expressed interest in the project and upon evaluation, the LOI was issued to MRCB/Penang Port consortium as it provided the best viable option for the project."Prasarana has commenced negotiations with the consortium and the final outcome will be announced in due course upon various approvals from relevant authorities," it added.Prasarana clarified that no party has been awarded the monorail project yet. -www.btimes.com.my