Gov't 'forced' to bail out TRX, injects RM2.8 billion
- 6 years ago
Cabinet has decided to inject RM2.8 billion for the Tun Razak Exchange project (TRX) because abandoning it will result in having to fork out RM3.51 billion in compensation.
"It will also be an eyesore to have an abandoned mega-project in the heart of Kuala Lumpur," said Finance Minister Lim Guan Eng in a statement today.
The RM2.8 billion injected was on top of the RM3,688 million transferred by the federal government to project owner TRX City Sdn Bhd (TRXC) since 2012.
In total, the federal government would have to fork out RM6.5 billion.
"It will also be an eyesore to have an abandoned mega-project in the heart of Kuala Lumpur," said Finance Minister Lim Guan Eng in a statement today.
The RM2.8 billion injected was on top of the RM3,688 million transferred by the federal government to project owner TRX City Sdn Bhd (TRXC) since 2012.
In total, the federal government would have to fork out RM6.5 billion.