GEORGE TOWN, April 21 – The Penang Light Rail Transit (LRT) Mutiara Line project is poised to significantly improve mobility, reduce traffic congestion, and bolster economic and tourism sectors while aligning with the Silicon Island initiative to establish Penang as a top destination for high-tech investors.
State executive councillor for infrastructure, transport and digital, Zairil Khir Johari, said this transformative infrastructure project has the potential to be a catalyst for Penang’s rise as it bridges geographical gaps as well as propels Penang into the spotlight, showcasing its potential as a prime investment destination.
He also highlighted recent reports of investors shying away from Singapore due to the escalating cost of operating business there and in this context, Penang has ready infrastructure to offer itself as an alternative to Singapore.
“In the shifting landscape of global investment, Singapore’s soaring operational costs have cast a shadow over its once-prominent allure.
“As investors retreat from the Lion City, Penang emerges as a compelling and attractive alternative with its well-established infrastructure. The LRT project will further boost Penang’s image to attract investors,” he told Bernama.
On top of that, he said, the LRT project also promises a better quality of life through efficient transportation and environmental sustainability by reducing carbon emissions and supports the goals of the National Energy Transition Roadmap and Penang2030 vision.
Zairil said the LRT project has been on the drawing board of the Penang state government for nine years now and it has undergone the process for all the necessary and critical approvals, such as the Railway Scheme and Environmental Impact Assessment.
Transport Minister Anthony Loke Siew Fook announced on March 29, 2024, that the Cabinet has approved the Penang LRT project, with MRT Corporation as the project developer and asset owner.
This decision means that the Federal Government would be taking over the project from the state government.
