KUALA LUMPUR: The Mass Rapid Transit Line 3 (MRT3) Circle Line project, which is estimated to cost between RM31bil and RM50bil, will be funded via sukuk issuances.

       MRT Corp CEO Datuk Mohd Zarif Hashim said the construction of the MRT 3 project is estimated to cost RM31bil, about RM8.4bil has been earmarked for land acquisition while the remaining RM8bil for interest payment.

       “The final cost is subject to open tenders. We estimated that the overall cost of construction of the MRT 3 will be about RM31bil, which is similar to the MRT Putrajaya Line,” he told reporters at a briefing on Tuesday.

       The MRT 3 project will consist of 31 stations spanning over 51km long that will take almost eight years to be constructed.

       “The MRT 3 is expected to be fully operational in 2030.

       “The project is the critical last piece to complete the Kuala Lumpur urban rail network,” Mohd Zarif said.