Interchange set to boost i-City

 

A RM58 million elevated interchange linking the Federal Highway and Section 7, Shah Alam, which is under construction, will further boost the RM5 billion i-City project, I-Berhad's top executive said.

I-Berhad, an integrated ICT urban centre developer, is the project owner for the 42ha i-City development near the Sungai Rasau toll in Section 7.

Executive chairman Tan Sri Lim Kim Hong said the interchange will not only reduce traffic congestion in the area but will also boost the socioeconomic development of Section 7, including i-City, when completed this year.

The 2km interchange is built by the Selangor state government and funded by developers that have projects in i-City. They include I-Berhad, IJM Land Bhd, the Selangor State Development Corp (PKNS) and several private and joint venture companies. 

Each developer's contribution is based on a formula that takes into account the gross development value and traffic usage by the respective projects.

Based on this formula, I-Berhad's contribution is RM27.6 million, Lim said.

The new ramp (from Kuala Lumpur) will be built after the Sungai Rasau toll and will lead directly into i-City. The ramp on the opposite side (from Klang) will take motorists straight into the i-City Mall carpark.

Lim said the building of the ramp will help accelerate the company's leisure business through its 10ha theme park operation, as it becomes more convenient for visitors to enter i-City.

Last year, i-City had five million visitors and Lim expects this to increase in the current year. The theme park has four features, namely City of Digital Lights with its million LED lights, SnowWalk with ice sculptures, Waterworld and FunWorld.

I-Berhad's income-generating businesses are property development and the leisure components.

For the nine months ended September 30, 2012, the company recorded a net profit of RM7.74 million on a revenue of RM35.9 million.

I-City is a knowledge and tourism project which is 20 per cent developed. 

Upon completion over the next seven to 10 years, it will have over 20 office towers, residences, Soho blocks, hotels and a serviced apartment-cum-hotel. Besides the theme park, some 500,000 sq ft of offices suites and 70,000 sq ft Tier 4 data centre and retail have been completed.

By : btimes.com.my

Published : Jan 21, 2013

Source : http://www.btimes.com.my/Current_News/BTIMES/articles/IBHD18/Article/