Summary ( Prepared By: Legal Unit, Municipal Council of Penang Island) of Concession Agreement For Build-Operate-Transfer (B.O.T) of the Project Facilities of the Penang’s People’s Park namely:
(I) Subterranean Penang International Convention & Exhibition Centre (sPICE) and Complementary Retail/F& B Outlets/ Offices
(II) Refurbishment and Rectification Works to Existing PISA Indoor Stadium
(III) Refurbishment and Rectification Works to Existing PISA Aquatic Centre
1. As instructed by the Penang Chief Minister YAB Tuan Lim Guan Eng, MPPP is making public the concession agreement for the BOT of the above 3 project facilities known collectively as the Penang’s People’s Park that would yield a 7 acres green public park free for the public.
2. The Concession Agreement has been signed on 19/08/2011 between MPPP and Eco Meridian Sdn Bhd (EMSB), a wholly owned subsidiary of S.P Setia as the Concessionaire of the Project Facilities. The Concession Agreement has been duly stamped on 24/08/2011.
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