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Concession Essay

2095 words - 9 pages

INTRODUCTION

Concession could bring different definition to different country. It is also has been described with a list of different wording and acronyms worldwide. The terms such as privatization, divestiture, lease, affermage, PPP, PFI, Build-Own-Operate (BOO), Build-Own-Operate-Transfer (BOOT), Build-Operate-Lease-Transfer (BOLT), Build-Lease-Operate-Transfer (BLOT), Build-Transfer-Operate (BTO), Build-Operate-Renewal (BOR), Build-Rent/Lease-Transfer (BRT or BLT), Design-Build-Finance-Operate (DBFO) and Rehabilitate-Operate-Transfer (ROT), outsourcing, delegation of services, management contract, operation and maintenance contract, service contract, operating contract, performance ...view middle of the document...

It is designed to coordinate the Privatisation and the Public-Private Partnership (PPP) projects. At present, 52 projects in the construction stage is undertaking by the Government with an estimated value of RM62.7b. The Government is supporting the private sector to endow in development project whether through PPP or through direct investment of the private sector in the country’s development programme in formation with the Government’s new method based on the new economic model in the 10th Malaysia Plan. The key themes of the current 10th Malaysia Plan PPP initiative revolve around:
• Improvement of basic infrastructure
• Upgrading of public transportation in Greater KL

STORMWATER MANAGEMENT AND ROAD TUNNEL (SMART) BY GAMUDA BERHAD

There are a lot of PPP projects which has been scheduled out by the Government started from 2011 and expected to be completed in 2015. The completed projects namely Plus Expressway, Stormwater Management and Road Tunnel (SMART), Westport, Privatisation of Penang Port and KLIA Express and KLIA Transit. Those projects which still under construction are Mass Rapid Transit (MRT), Electrified Double Track Ipoh – Padang Besar Project, Perdana University, International Islamic University Malaysia (IIUM) teaching hospital and combined-cycle gas power plant in Kimanis, Sabah (cari ref dari www.pwc.com). From the many, there are two project which has been carried out by the a leading turnkey contractor Gamuda Berhad with Build-Operate Transfer (BOT) expertise and capability that is Gamuda Berhad and MMC Corp Berhad. Those two projects are Stormwater Management and Road Tunnel (SMART) and Electrified Double Track Ipoh – Padang Besar Project. However, under this topic, we will be discussing about the completed one that is the SMART project.

Figure 1: Recent and upcoming PPP projects (2100 – 2015) (cari ref dari www.pwc.com)
The initial idea of Stormwater Management and Road Tunnel (SMART) was for a tunnel to divert and gather the storm water, but the idea developed into the mixed-use tunnel model that would permit traffic stream when the tunnel was clear from water. The liability reasons was the factor in this evolution that the tunnel had to run below government-owned land. This factor has led planners to consider positioning the tunnel underneath a road, which later led to the concept of incorporating a tolled traffic into the project. Subsequently, private sector involvement in a Public-Private Partnership (PPP) could be protected thus decreasing the expenditures of the project for the Malaysian Government as a result of permitting a part of the tunnel to be tolled for motorway (http://ncppp.org/undp/kualalumpur.html)
SMART project was developed as a concession, commenced by the project proponent, namely MMC Engineering Group –Gamuda Joint Venture which also as acted as the turnkey contractor. Together, they formed the Syarikat Mengurus Air Banjir & Terowong...

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