Malaysia Airports Holdings Bhd (MAHB) is ready to proceed with its plan to expand the Penang International Airport after getting the approval from the Ministry of Finance.

Group chief executive officer Raja Azmi Raja Nazuddin said MAHB has been working on the expansion project over the past two years, bringing in consultants to draw up detailed construction plans after engaging with the Ministry of Transport (MoT), Malaysian Aviation Commission (MAVCOM) and the Penang state government, including Chief Minister Chow Kon Yeow.

“The plans are ready to be submitted by the end of July 2019 to obtain the planning approval from the Penang Island City Council (MBPP), after the project has received the necessary clearance from MAVCOM, MoT and the Department of Director-General of Lands and Mines (Federal) as the land owner,” said the airport operator in a statement today.

The statement was in response to a news report titled “Operating issue an obstacle to private initiative for airports” which quoted Chow as saying that certain issues have hampered the progress of the Penang International Airport’s expansion.

MAHB said it is currently in the midst of discussions with various parties on the options for investment and funding models.

The airport operator said it had submitted an application to fully fund the project under the proposed MAVCOM Regulated Asset Base (RAB) framework and is now waiting for approval.

It added that once the necessary plans have been approved by MBPP, construction should begin in the first quarter of next year.

Source: Bernama