5 January, 2009
Sime Darby Bhd has received the government's approval to proceed with the proposed private low-cost carrier terminal (LCCT) project in Labu, Negri Sembilan.
Sime Darby said in a statement to Bursa Malaysia on Monday the project was an integral part of its development plan for its Negeri Sembilan Vision City (NSVC).
NSVC is part of its Central Vision Valley (CVV) property development project spanning Selangor and Negeri Sembilan.
Sime Darby and budget airline AirAsia Bhd had proposed to jointly develop and operate the RM1.6bil LCCT to be known as KLIA-East@Labu.
The project, estimated to cost about RM1.6bil, would be privately funded.The RM1.6bil was an estimate of the cost of structures and the runway but did not include the 3,000-acre land where it would be built.
This article is a verbatim copy of the original article from The Star.