ID :
154340
Wed, 12/22/2010 - 12:30
Auther :
Shortlink :
https://oananews.org//node/154340
The shortlink copeid
MOU PAVES WAY FOR M`SIAN PARTICIPATION IN INDIAN ROAD PROJECTS
PUTRAJAYA, Dec 22 (Bernama) -- Malaysia and India Tuesday signed a
memorandum of understanding on technical assistance for road development and
management which enables Malaysian contractors to participate in the high-impact
projects in that country.
Prime Minister Najib Tun Razak said the MoU held great potential
because the Indian road construction programme encompassed the building of 7,000
km of roads annually or 20 km per day.
He said India offered Malaysian companies the opportunity to implement part
of the programme.
"I believe this MoU will pave the way for a new era and opportunities for
Malaysian construction companies to participate in infrastructure projects in
India, particularly in the building of roads," he told reporters after
witnessing the signing of the MoU at his office here.
Malaysia was represented by Works Minister Shaziman Abu Mansor and India
by its Road Transport and Highways Minister Kamal Nath at the signing.
Najib said Shaziman would discuss with his Indian counterpart details of
the MoU which would be implemented from next month.
He said Malaysian contractors were currently involved in 74 projects valued
at about RM14 billion (US$1=RM3.13) in India.
"Almost 50 per cent of the projects are related to construction of roads and
highways valued at about RM7 billion.
"The Indian government is most satisfied with the role played by Malaysian
infrastructure companies, particularly contractors engaged in road construction.
"Furthermore, the Prime Minister of India and the Indian government desire
to expand bilateral economic relations. It is in this most positive atmosphere
that the Indian Cabinet decided that this MoU be signed," he said.
Under the MoU, Malaysian contractors are expected to be able to participate
in the development of 1,000 km of road estimated to cost RM17.5 billion.
In another development, Najib, who is also Finance Minister, said Malaysia
was on the right track in terms of expected economic growth for 2010 and next
year.
"We know we will have to cope with a slowdown in terms of the external
economy but we are pushing domestic demand.
"The Economic Transformation Programme (ETP) will certainly help boost our
growth for next year," he said.
-- BERNAMA
memorandum of understanding on technical assistance for road development and
management which enables Malaysian contractors to participate in the high-impact
projects in that country.
Prime Minister Najib Tun Razak said the MoU held great potential
because the Indian road construction programme encompassed the building of 7,000
km of roads annually or 20 km per day.
He said India offered Malaysian companies the opportunity to implement part
of the programme.
"I believe this MoU will pave the way for a new era and opportunities for
Malaysian construction companies to participate in infrastructure projects in
India, particularly in the building of roads," he told reporters after
witnessing the signing of the MoU at his office here.
Malaysia was represented by Works Minister Shaziman Abu Mansor and India
by its Road Transport and Highways Minister Kamal Nath at the signing.
Najib said Shaziman would discuss with his Indian counterpart details of
the MoU which would be implemented from next month.
He said Malaysian contractors were currently involved in 74 projects valued
at about RM14 billion (US$1=RM3.13) in India.
"Almost 50 per cent of the projects are related to construction of roads and
highways valued at about RM7 billion.
"The Indian government is most satisfied with the role played by Malaysian
infrastructure companies, particularly contractors engaged in road construction.
"Furthermore, the Prime Minister of India and the Indian government desire
to expand bilateral economic relations. It is in this most positive atmosphere
that the Indian Cabinet decided that this MoU be signed," he said.
Under the MoU, Malaysian contractors are expected to be able to participate
in the development of 1,000 km of road estimated to cost RM17.5 billion.
In another development, Najib, who is also Finance Minister, said Malaysia
was on the right track in terms of expected economic growth for 2010 and next
year.
"We know we will have to cope with a slowdown in terms of the external
economy but we are pushing domestic demand.
"The Economic Transformation Programme (ETP) will certainly help boost our
growth for next year," he said.
-- BERNAMA
