PETALING JAYA: The water deal between the Federal Government and Selangor will be concluded with a signing ceremony on Tuesday, said the Energy, Green Technology and Water Ministry.
In a statement issued on Sunday night, the Ministry said the signing ceremony would be held in Shah Alam to seal four agreements between Pengurusan Aset Air Berhad (PAAB) and Pengurusan Air Selangor Sdn Bhd (Air Selangor) under the restructuring of Selangor’s water services industry.
"The four agreements are the Facilities Agreement, Lease Agreement, Rights of Use Agreement and Settlement Agreement, which are Condition Precedents to effect the Master Agreement for the restructuring exercise," said the Ministry.
It added that at the event, Energy, Green Technology and Water Minister Datuk Seri Dr Maximus Ongkili would hand over to Selangor Mentri Besar Azmin Ali the Facilities and Service Licenses issued to Air Selangor.
"This is the final Condition Precedent to the Master Agreement that needs to be fulfilled by the Federal Government. With the conclusion of the agreements and handing over of the licenses, the critical Condition Precedents would be completed and fulfilled," said the Ministry.
It said that this means the Master Agreement would take effect from Sept 9, 2015.
"With the Master Agreement in effect, Air Selangor can now hand over the required land titles with value of up to RM2bil to PAAB in order for PAAB to provide the necessary funds for Air Selangor to take over the Selangor water concessionaires," added the Ministry.
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