Published: Friday July 6, 2012 MYT 11:42:00 AM
Updated: Friday July 6, 2012 MYT 12:20:17 PM
Zelan inks govt concession for RM391m campus (Update)
KUALA LUMPUR: Zelan Bhd has sealed a concession agreement with the government and International Islamic University Malaysia (IIUM) to build a campus in Gambang, Pahang.
Zelan said on Friday the total construction cost was RM391.65mil only comprising the cost for construction works, consultants' fees and road electrical work.
Under the agreement, the project would be on a Build-Lease-Manage-Transfer (BLMT) basis by way of private finance initiative (PFI) scheme.
Zelan said the Centre for Foundation Studies (Phase 3) would be able to accommodate complete teaching, learning and boarding facilities for IIUM students.
Under the concession, it would build the campus, its facilities and infrastructure and also carry out asset management services for the campus.
Zelan would also provide the commercial and retail services including the rights to impose and retain the commercial and retail charges.
"The total payment of availability charges throughout the concession period of RM835.61mil," it said.
As for the asset management services charges, Zelan said the maintenance services charges for the entire concession period would amount to RM504.68mil. The asset management programme for the concession period would be RM132.79mil.