ALOR STAR: Kedah Umno has called on Menteri Besar Datuk Seri Muhammad Sanusi Md Nor to shed light on the status of a RM2.5 billion deposit by a local company to develop Kulim International Airport (KXP), a component of the proposed Kedah Aerotropolis mega project.
Its information chief Datuk Shaiful Hazizy Zainol Abidin asked this since it has already passed the 90-day deadline for the investor to fulfil the RM2.5 billion deposit, which represents 125 per cent of the estimated land acquisition cost for the project.
"Kedah Menteri Besar has said that Tahira Air Sdn Bhd will be depositing RM2.5 billion which is 125 per cent of the investment value within 90 days after signing the MoU (memorandum of understanding) on Nov 22, 2023.
"If we count the date, the 90-day period has ended on Feb 20, 2024," he said in a statement today.
Shaiful argued whether the investment has failed to materialise, thus explains why Sanusi has been keeping quiet about the matter.
It was reported on Nov 22 that state-owned KXP AirportCity Holdings inked a cooperation agreement with between Tahira Air Sdn Bhd to form a special purpose vehicle (SPV) entity to develop Kedah Aerotropolis.
KXP AirportCity Holdings is wholly-owned by Kedah State Development Corporation (PKNK), while Tahira Air Sdn Bhd is a subsidiary of integrated logistics and transportation solutions provider, Tahira Group.
Sanusi, who is also the KXP Airport City board of director chairman was reported as saying that under the agreement, the new SPV is required to fulfil the RM2.5 billion deposit which represents 125 per cent of the estimated land acquisition cost for the project within 90 days.
The proposed Kedah Aerotropolis is a private funding initiative (PFI) on a 3,965 hectares site in Sidam Kiri.
Under the proposed new business model, the main components of Kedah Aerotropolis will be freight cargo, aircraft Maintenance, Repair and Overhaul (MRO) services, Sidam Logistics, Aerospace and Manufacturing Hub (SLAM) and integrated industrial park.
It was also reported that the state government is seeking approval from the federal government to proceed with the proposed project.