Syabas receives government loan for water projects

The Malaysia Government has provided a MYR110m ($35.2m) loan to Puncak Niaga Holdings subsidiary Syarikat Bekalan Air Selangor Sdn Bhd (Syabas) to finance its water projects.

Syabas will allocate MYR95m for the capital expenditure of a pipe replacement project in 14 areas in Selangor, Kuala Lumpur and Putrajaya, reports The Star.

The remaining MYR15m will be used to upgrade the water supply system at Sabak Bernam to take 65 million litres of clean water per day from the Bernam River Headwork Reservoir.

Syabas received the loan for a period of 20 years, with a grace period of two years.