The government plans to raise between RM20-30bn through the sale of long-term Islamic bonds to fund the Klang Valley MY Rapid Transit (MRT). The bonds, with a tenure of up to 65 years, will be finalised over the next three to four months, MRT Corp CEO Datuk Azhar Abdul Hamid said. For initial funding of the project, a consortium of banks are expected to provide a bridging loan of between RM400-500m, he said. Dana Infra Sdn Bhd will coordinate the financing. The actual value of the project for the SBK line will be determined only in 4Q12, after all 90 job packages have been awarded. “But we have an estimate of the value, which includes rolling stock ... and I can tell you it’s not as high as the RM36bn (that’s sometimes speculated in media reports),” he remarked. (BT)