MRT Corp will serve as the project developer for MRT3. Credit: nuttanart/Pixabay.

The Mass Rapid Transit 3 (MRT3) Circle Line project in the Malaysian capital of Kuala Lumpur is estimated to entail an investment of $7.4bn (MYR31bn).

Another $2bn (MYR8.4bn) is estimated for the land acquisition of the project, which involves the construction of a 51km line on the outskirts of Kuala Lumpur. The funding required for the project will be provided by the government and the private sector.

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Mass Rapid Transit Corporation (MRT Corp), a corporate body under the Malaysia Minister of Finance, will serve as the project developer and asset owner.

With full operation expected by 2030, the first phase of the project is anticipated to begin operations in 2028.

The MRT3 project will feature 31 stations, including 24 elevated stations and seven underground stations. It will include 40km of elevated tracks and 11km of underground tunnels.

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Malaysia Transport Minister Datuk Seri Dr Wee Ka Siong stated that the project is the crucial last step to complete Kuala Lumpur’s urban rail network to improve public connectivity, reported The Malaysian Reserve.

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“Upon completion, the transit system network will further encourage public transport usage among the public,” he was quoted as saying.

The project construction will be divided into five packages. It includes two turnkey contractors for elevated works, one turnkey contractor for underground works, one for integrated rail systems, and one project management consultant.

Via ten interchange stations, the Circle Line will be linked to existing MRT, Light Rail Transit, KTM Komuter, and monorail lines.

In March last year, Malaysia paid around $76.3m (S$102.8m) to Singapore for the cancelled high-speed rail project between the two countries.