According to Sources: Penang Monorail

On the weekend, I posted the following posting: According to Sources

In today's Business Times, here's another article talking about this project.

• Penang monorail bidders called for presentations
  The Economic Planning Unit's approval is the final nod required for the RM1.6 billion high-speed monorail project before the proposal can be brought to the Cabinet

This is what's mentioned on the article:

• Penang monorail bidders called for presentations
  By Francis Fernandez
  bt@nstp.com.my
  
  March 12 2007
  
  THE Economic Planning Unit (EPU) has started calling shortlisted firms bidding for a high-speed monorail project in Penang to make presentations, a senior executive at one of the companies said.
  
  The Penang monorail contract is worth as much as RM1.6 billion, and is one of the largest infrastructure projects on offer on the island.
  
  The Works Ministry, in August last year, approved plans for the project to go ahead. Subsequently, it was included in the country's latest five-year development plan.
  
  The EPU's approval is the final nod required before the proposal can be brought to the Cabinet.
  
  As many as five companies have bid to build the 51.2km rail line across the heart of Penang island in 28 months.
  
  Among them are MMC Metrail Sdn Bhd, Melewar Industrial Group Bhd, Malaysian Resources Corp Bhd (MRCB), Penang Port Sdn Bhd and the UEM group.
  
  Business Times was told that the top contenders are MMC Metrail and Melewar. Melewar has assembled a Russian-German infrastructure team to build the rail at a cost of RM1.58 billion, or RM30 million per km.
  
  This would be half the RM60 million per km average cost billed by KL Infrastructure Group Bhd for building a 65km monorail network in Kuala Lumpur.
  
  MMC Metrail is an associate of MMC Corp Bhd, an operator of ports and power plants. It has strong claims for the job.
  
  As early as October 2003, MMC Metrail, which is 20 per cent owned by MMC Corp, was reported to have won a letter of exclusivity to build a 37km light monorail transit linking Komtar in George Town and Bayan Lepas.
  
  Officials close to MMC Corp have never denied the existence of the letter, but they did not elaborate on its scope.

Interesting?

So many stories being told to the press.

Now I wonder, if the EPU has started to call the short listed companies to make presentations of their bids, why are there so many stories being told to the press? Why?

And these monorail projects, I wonder if such projects are even profitable...