SG Foreign firms eyeing high speed rail link
Property Here - Tuesday, April 02, 2013
By Farah Wahida:
Mainland Chinese and Hong Kong companies have expressed interest to participate in the proposed high-speed railway (HSR) project between Singapore and Kuala Lumpur.
According to Mohamad Nur Ismal Kamal, CEO of Malaysia’s Land Public Transport Commission (SPAD), the train service which is expected to be completed in 2020, will likely cost “tens of billions of Singapore dollars”.
“We have been in talks with Hong Kong companies, some from (the) rail and property (sectors),” noted Mohamad Nur Ismal, adding that firms from China, Germany, France, Spain and Japan also made informal offers.
Tenders for the project are expected to be announced in a year, with the government seeking investments from the private sector, including foreign investors. Authorities from Singapore and Malaysia will then plug the funding gaps.
Upon completion, the high-speed railway will reduce travelling time between Singapore and Kuala Lumpur to just 90 minutes. It currently takes about four hours by road, or an overnight trip using existing train services.
The project is also expected to boost the economic activities of Malaysian cities it will pass through including Johor Bahru, Malacca, Seremban and Kuala Lumpur.
The HSR was announced by Prime Minister Lee Hsien Loong and his Malaysian counterpart Najib Razak during a press conference in Singapore on 19 February.
Farah Wahida, Editor of PropertyGuru Malaysia, wrote this story. To contact her about this or other stories email@example.com