jeffooi
31-10-2002, 08:56 AM
BERNAMA.COM
October 30 , 2002 23:34PM
<FONT SIZE="+1">Elite Toll Rate Up By 10 Per Cent Every Three Years</FONT>
KUALA LUMPUR, Oct 30 (Bernama) -- Toll charges for the central-link ELITE North-South Expressway would cost 12.36 sen/km or a 10 per cent increase effective tomorrow.
Works Minister Datuk Seri S. Samy Vellu said this rate is lower than the earlier proposal of 15.01 sen/km. The 10 per cent hike is for every three years until the concession expires in 2030.
In a statement, Samy Vellu said the government decided to review the toll charges because the earlier proposal means a 33.3 per cent increase compared to the 11.24 sen/km charged in 2000.
With this reduction, ELITE's earnings would drop by RM1.061 billion, he added.
To compensate the loss, Samy Vellu said the government would extend ELITE's contract from 2025 until 2030, which was agreed Wednesday.
The government would also pay in cash to ELITE the real value of the compensation, the difference between the 11.24 sen/km proposed in 2002 and 12.36 sen/km rate charged effective January 2002, till the new charge is enforced.
ELITE would be exempted from paying interest on the RM89.9 million government loan and it would be given an interest-free loan of RM300 to reduce its commercial borrowings.
The following are the new ELITE toll rates:
2002-2004 (12.36 sen/km)
2005-2007 (13.6 sen/km)
2008-2010 (14.96 sen/km)
2011-2013 (16.46 sen/km)
2014-2016 (18.1 sen/km)
2017-2019 (19.91 sen/km)
2020-2022 (21.9 sen/km)
2023-2025 (24.09 sen/km)
2026-2028 (26.5 sen/km) and
2029-2030 (29.15 sen/km)
SOURCE:
http://www.bernama.com/B2002/news.shtml?general/ge3010_32
October 30 , 2002 23:34PM
<FONT SIZE="+1">Elite Toll Rate Up By 10 Per Cent Every Three Years</FONT>
KUALA LUMPUR, Oct 30 (Bernama) -- Toll charges for the central-link ELITE North-South Expressway would cost 12.36 sen/km or a 10 per cent increase effective tomorrow.
Works Minister Datuk Seri S. Samy Vellu said this rate is lower than the earlier proposal of 15.01 sen/km. The 10 per cent hike is for every three years until the concession expires in 2030.
In a statement, Samy Vellu said the government decided to review the toll charges because the earlier proposal means a 33.3 per cent increase compared to the 11.24 sen/km charged in 2000.
With this reduction, ELITE's earnings would drop by RM1.061 billion, he added.
To compensate the loss, Samy Vellu said the government would extend ELITE's contract from 2025 until 2030, which was agreed Wednesday.
The government would also pay in cash to ELITE the real value of the compensation, the difference between the 11.24 sen/km proposed in 2002 and 12.36 sen/km rate charged effective January 2002, till the new charge is enforced.
ELITE would be exempted from paying interest on the RM89.9 million government loan and it would be given an interest-free loan of RM300 to reduce its commercial borrowings.
The following are the new ELITE toll rates:
2002-2004 (12.36 sen/km)
2005-2007 (13.6 sen/km)
2008-2010 (14.96 sen/km)
2011-2013 (16.46 sen/km)
2014-2016 (18.1 sen/km)
2017-2019 (19.91 sen/km)
2020-2022 (21.9 sen/km)
2023-2025 (24.09 sen/km)
2026-2028 (26.5 sen/km) and
2029-2030 (29.15 sen/km)
SOURCE:
http://www.bernama.com/B2002/news.shtml?general/ge3010_32