State-owned Malaysian transport operator Syarikat Prasarana Negara Bhd is expecting to begin work on the proposed RM7bn (approximately $2bn) Klang Valley light rail extension project in 2010.
The project involves extending the Kelana Jaya Line and the Ampang Line as well as a 17km Kelana Jaya Line extension from the Kelana Jaya station to Putra Heights via Subang Jaya and USJ with 13 new stations.
The rail extension also includes a 17.7km Ampang Line extension from the Sri Petaling station to Putra Heights via Kinrara and Puchong areas with 13 new stations.
The project will be financed entirely by the rail company, possibly through the use of bonds and is expected to be finished within three years.
Prasarana Group managing director Datuk Idrose Mohamed said that the company has already internally generated RM2bn and issued RM2bn in Islamic bonds to raise funds for the project.
The company will open bids for the construction work in October.
The project's cost, estimated as RM7bn, will be finalised once the proposed alignment is approved and the detailed design is finished.