http://www.chinadaily.com.cn/bizchina/2007-07/14/content_5434978.htm

Firm to build longest bridge
By Lu Haoting (China Daily)
Updated: 2007-07-14 06:51


China Harbor Engineering Co Ltd (CHEC), the country's top port builder and a leading bridge construction firm, agreed on Friday to build a bridge linking the mainland of Malaysia with the country's northern Penang state.

When completed in January 2011, the $1.1 billion bridge will become Southeast Asia's longest.

The Export-Import Bank of China, a government-owned policy bank, will provide an $800 million loan, the largest amount provided by China to finance a single project in a foreign country.

The loan will carry a 3 percent interest rate over 20 years. Commercial banks usually have a shorter repayment period and higher interest rates.

The bridge is also CHEC's largest overseas project in terms of contract value.

"The bridge will become a symbol of friendship between China and Malaysia. It is also a great opportunity for CHEC," Sun Ziyu, CHEC president, told China Daily on the sidelines of Friday's contract and loan agreement signing ceremony.

Design and construction of the bridge is being undertaken by a consortium in which CHEC holds a 51 percent stake. UEM Construction, a unit of Malaysia's leading construction conglomerate UEM Group, has the remaining shares.

CHEC will design and build the main part of the bridge that will cross the South Channel, between Penang Island and the Malaysian mainland. UEM will be responsible for the bridge approach.

The 22.5-km bridge will be the second to link Penang Island with the Malaysian mainland after the existing Penang Bridge, which is being expanded to accommodate increasing traffic.

The new bridge is part of the Ninth Malaysian Plan, a comprehensive government blueprint to allocate the national budget from 2006 to 2010.

The most striking feature of the planned bridge is two sightseeing platforms at its central span. The platforms will enable tourists to enjoy a panoramic view of Penang and the mainland.

"Southeast Asia has been a major overseas market of CHEC due to its huge demand for infrastructure building. With the closer relationship between China and ASEAN countries, we hope to see more opportunities in the future," Sun said.

800 million loan!:eek:

^^ it'll take a long time to pay back this loan..

PFI maa.. x pakai duit rakyat pun.

longest bridge where..in malaysia..what i heard there will be a longest bridge at sarawak..

longest in malaysia..but only built maybe 5 years from now..

:ohno:

according to article (China Daily) Expected date of completion of the longest bridge in SEAsia is Jan 2011 ie 3 1/2 years time

longest bridge where..in malaysia..what i heard there will be a longest bridge at sarawak..

longest in malaysia..but only built maybe 5 years from now..

:ohno:

longerst bridge in sarawak? where?hav a prove?

The longest bridge would be built from Sarawak to Johor, maybe that will be the longest in the world as well.

Second Penang Bridge to now cost over RM3b
New Straits Times (Kuala Lumpur, Malaysia)
October 30, 2007
Author: Phuah Ken Lin

GEORGE TOWN: Chief Minister Tan Sri Dr Koh Tsu Koon said the second Penang Bridge is expected to cost more than the original estimate of RM3 billion.

This, he said, was due to the rising cost of building materials.

Koh said he would have a meeting with UEM Builders Bhd and the main contractor, China Harbour Engineering Co Ltd (CHEC), today to discuss the issue. "I will discuss with UEM and CHEC on the revised cost structure and technical aspects of the new bridge.

"Rising cost of building materials such as cement, iron bars and earth has rendered the current RM3 billion estimates unrealistic," said Koh after speaking at the Rosettanet Global Community and Partner conference yesterday.

Koh said the RM3 billion figure was based on estimates that was done years ago and was thus not reflective of the current cost of building materials.

He was commenting on a statement by UEM managing director Datuk Ridza Abdoh Salleh on the projected increase in construction cost.

Ridza said UEM would work within the new budget.

"At this moment, UEM and CHEC have yet to finalise the revised cost." Koh said as the bridge was a mammoth project, it would take some time for the developers to work out a new figure.

CHEC is set to begin pile testing for the 22.5km bridge, which will link Batu Kawan in Seberang Perai and Batu Maung on the island, this month.

The bridge is expected to ready by January 2011.

UEM subsidiary, UEM Construction Sdn Bhd, has formed a consortium known as CHEC-UEMC to build the bridge, with CHEC holding a 51 per cent stake and UEM the remaining stake.

The bridge will be the longest in Southeast Asia.