A decision regarding the increase of toll rates for the PLUS highways will only be made in June, the New Straits Times reports. This was said by UEM group’s MD and chief executive, Datuk Izzaddin Idris.
Meanwhile, the group is reportedly planning to negotiate with the Works Ministry regarding the toll rates in the coming months. The group has set a dateline for PLUS Malaysia stipulating that by June this year, its expressway arm will have to submit a proposal and finalise its decision with the ministry.
“We have not submitted anything. We are planning to have that discussion at some stage, depending on the government’s decision,” Izzadin said, adding, “for the time being, we are waiting for the government to decide on the toll increase that was supposed to be effective in January this year.”
Izzadin is referring to the scheduled increase of five percent, which was supposed to take effect at four out of its five highway concessions on January 1, 2016. The exclusion being the Penang Bridge toll, which will remain at the current rate until 2038.
Under the revised concession agreement (CA), PLUS Malaysia is allowed to increase toll rates by five percent every three years starting from 2016. The increase will continue until the concession period expires in December 2038.
PLUS has a total of five highway concessions – North-South Expressway (NSE), New Klang Valley Expressway (NKVE), Federal Highway Route 2 (FHR2), Seremban Port-Dickson Highway, North-South Expressway Central Link (NSECL), Malaysia-Singapore Second Link (MSSL), Butterworth-Kulim Expressway (BKE), and the Penang Bridge.
The post PLUS highway toll rates deal to be decided in June appeared first on Paul Tan's Automotive News.
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