CZC makes no fresh request to reauction Gurney Drive land
Penang Chief Minister Chow Kon Yeow said CZC's cash flow constraints had eased and the highway works were more than 95% completed.
Consortium Zenith Construction Sdn Bhd (CZC) has not sought another auction of a six-acre (2.42-hectare) site near Gurney Drive after the September auction drew no bidders, Penang Chief Minister Chow Kon Yeow said.
Chow told the Penang State Legislative Assembly that CZC no longer faced cash flow constraints and could finish the outstanding highway works, which were more than 95% completed. The company had requested the earlier auction to fund the remaining construction under the Package 2 Highway Project.
The bypass connects Bandar Baru Ayer Itam (Farlim) with the Tun Dr Lim Chong Eu Expressway. Chow was responding to Lim Guan Eng (Pakatan Harapan-Air Putih), who had asked about the failed sale and the possibility of another auction.
The plot on Jalan Peter Paul Dason carried a reserve price of RM313.632 million, or RM1,200 per square foot. Under the land-swap arrangement, auction proceeds were intended to settle the value of land due to CZC for completed work. Any surplus would be divided between the company and the state government on agreed terms.
Chow said extensive advertising could not guarantee participation by qualified bidders. Any subsequent action on the site would require a state authority decision, with implementation assigned to the Northeast District and Land Office (PDTTL).
