KUCHING, May 5 — The construction of the RM11 billion Light Rail Transit (LRT) and RM8 billion state water grid will not deplete the state’s reserves, Chief Minister Datuk Patinggi Abang Johari Openg assured today.
He said the state government will not use up the reserves and will instead find the “extra money” from oil and gas resources within Sarawak’s boundary to finance the two mega projects.
“I can tell you that we will get the extra funds for our LRT and water grid projects,” he said at the launch of Sejiwa Senada programme at Batu Kawah, near here.
The two-day programme is organised by the state civil service.
Abang Johari said LRT, which will link Santubong, Kuching, Samarahan and Serian, is expected to be completed within eight years.
He said the state’s financial position will be boosted when the state government, through its Petroleum Sarawak Berhad (Petros), starts getting profits from oil and gas ventures.
“So why should we bother ourselves with asking 20 per cent oil and gas royalty from the federal government when we can have full control over our resources?” he asked.
Abang Johari said that Petros and national oil company Petronas will explore oil and gas resources in Sarawak’s territory under joint production sharing agreements as equal partners.
The chief minister said that the state government is expected to receive RM2 billion in profit next year through its recent acquisition of a 25 per cent equity Malaysia Liquefied Natural Gas Plant (MNLG 3) in Bintulu.
