By Amin Ridzuan Ishak
SHAH ALAM, July 13 — The Selangor administration will issue the Air Selangor Sustainability Sukuk (Sukuk Kelestarian Air Selangor) as part of its RM35.42 billion plan to upgrade and enhance the state’s water infrastructure in the next 30 years.
Menteri Besar Dato’ Seri Amirudin Shari said the RM10 billion Islamic securities or sukuk will be issued under Pengurusan Air Selangor Sdn Bhd (Air Selangor) with the maturity range of between 1 to 20 years.
“The income from the issuance of the Air Selangor Sustainability Sukuk will be used to finance eco-friendly water infrastructure projects such as upgrading of existing water supply facilities which is 8 water dams, 33 water treatment plants, 28,713 kilometres of water pipes, 1,577 reservoirs and 653 water pump house.
“Also, the investment would be used on new projects such as Sungai Rasau water treatment plant and Labohan Dagang Phase 2 water treatment plant.
“The total investment figure is estimated at RM35.41 billion for 30 years, while the development projection for 2020 is at RM429 million and for 2021 is at RM3.2 billion,” said Amirudin while tabling the state economic recovery plan during the State Legislative Assembly sitting here today.
He said the issuance of the sukuk is part of Air Selangor short (3 years) and long (30 years) term business plan, as the sole holder of the license to supply water in Selangor, Kuala Lumpur and Putrajaya.
“Air Selangor leads in the joint effort to enhance and strengthen the water supply industry to be on par with operation in developed countries,” said Amirudin.
Earlier, Amirudin had today tabled the state economic recovery plan with a total economic value of RM55.85 billion.
Previously, the state had allocated a total of RM413.9 million through the Prihatin Economic Stimulus Package to address the impact of the Covid-19 epidemic in the state.