PETALING JAYA: Toll rates for 11 highways have been restructured to flat rates until the end of their respective concession period, says the Works Ministry.
Of the 33 operating highways with tolls managed by 27 highway concessionaires, the ministry said seven highways have their period of toll rate increases extended from between seven to 10 years with frequency of increases ranging from one to five times throughout the concession period."The concession companies have also applied for an extension period to finalise the restructuring proposal, which requires approval from their respective board members and bondholders,” it said.
It said the Cabinet on Dec 18, 2020 had agreed on the objective of the direction of the toll highway industry in the country to restore investor confidence and maintain concession companies in the industry involving existing highways through the restructuring of toll rates that will be jointly negotiated with the concessionaire company.
The ministry said each of the highways has a concession agreement with its own terms and conditions signed between the concessionaire company and the government.
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