Zelan Wins 23-year Concession Deal For Iium Campus

Zelan Wins 23-year Concession Deal For Iium Campus
The Star 

PETALING JAYA: Zelan Bhd has clinched a 23-year concession agreement from the Government and International Islamic University Malaysia (IIUM) to build a campus in Gambang, Pahang.

The project awarded to its wholly-owned subsidiary, Konsesi Pusat Asasi Gambang Sdn Bhd, would be on a build-lease-manage-transfer basis by way of private finance initiative scheme.

In filings with Bursa Malaysia, Zelan said the total construction cost was RM391.65mil comprising the cost for construction works, consultants' fees and road electrical work.

IIUM's Centre for Foundation Studies would be able to accommodate complete teaching, learning and boarding facilities for students.

Under the concession, it would build the campus, its facilities and infrastructure and also carry out asset management services for the campus.

Zelan would also provide commercial and retail services including the rights to impose and retain the commercial and retail charges.

"The total payment of availability charges throughout the concession period is RM835.61mil," it said.

As for the asset management services charges, Zelan said the maintenance services charges for the entire concession period would amount to RM504.68mil. The asset management program for the concession period would be RM132.79mil.