The 2019 RM815 million project to build a by-pass connecting Bandar Baru Ayer Itam to Lebuhraya Tun Dr Lim Chong in Penang has now been terminated, contractors Vertice and Zenith Construction have mutually agreed to rescind the LOA.
In March, Vertice issued the circular to its shareholders on the award of a contract from Consortium Zenith to Buildmarque Construction (a subsidiary of Vertice) for the Contract Works of Package 2 Project for a fixed contract sum of RM815.00 million seeking its shareholder’s approval for the acceptance of the Award of Contract.
The construction of Major Road 2 was expected to commence in September 2019 and be complete in August 2022, however, due to payment issues the project was halted.
As of date arrear of RM8 million is being requested to be refunded back to Vertice.
The By-pass is part of the controversial Penang undersea tunnel project, with the issue now gone legal with then Chief Minister Lim Guan Eng currently being investigated for corruption it’s no surprise the project is facing more delay and now to cessation.
