The reclamation cost for the Gurney Drive foreshore, which includes the 24.28ha Gurney Wharf “Park on the Sea’ project and Phase 2A of the Seri Tanjung Pinang Phase 2, is expected to cost RM1.07bil.
The reclamation cost would be borne by Eastern & Oriental Bhd (E&O) while the state government will finance the Gurney Wharf project, said Penang Chief Minister Lim Guan Eng.
“The reclamation cost does not include other ancillary cost for infrastructure, consultants and experts.
“The state will own the foreshore once the reclamation is completed and will begin work on the Gurney Wharf project,” he told a press conference yesterday.
On Tuesday, Lim announced the massive recreational waterfront project, which would include a seaside food and beverage area, water gardens, beach and coastal groves spanning some 1.5km of shoreline.
“Work on the project will only begin in 18 months after the reclamation is completed.
“The cost of engaging some of the world’s best architects to produce the Gurney Wharf concept masterplan will be borne by E&O.
“The time frame includes eight to 10 months for land reclamation plus another six to eight months for soil treatment and settlement,” he added.
Gurney Drive, Lim said, would remain open and be accessible to vehicular and pedestrian use, and will be beautified.
Lim added that measures have been taken to arrest the impact of a potential tsunami on the platform level of the reclaimed land.
The level of the platforms will be over 5.5m, higher than the 2004 tsunami that hit the shores of Gurney Drive at 4.2m.
“Gurney Wharf will be delivered in phases.
“It is hoped that the park area can be delivered by mid-2018.
“The second phase encompassing the seafront retail and food outlets is likely to be completed by 2020,” he said.
The public can give their feedback on the proposed Gurney Wharf concept masterplan via the feedback box at the exhibition area at Level Two, Komtar until tomorrow.
Lim said after the feedback exercise, the state will determine the other practical elements of the project, including how it would be financed. - The Star