IN MALAYSIA, ANYTHING IS POSSIBLE, A STEEL BAR COMPANY ALSO CAN GET PROJECT FOR RAIL TRANSIT SYSTEM ! WHERE IS THE TECHNOLOGY KNOW HOW & TRACT RECORD ?
Masteel, KUB to jointly run inter-city rail transit system in Iskandar Malaysia
KUALA LUMPUR, Jan 19 – Malaysia Steel Works (KL) Bhd (Masteel) and KUB Malaysia Bhd today signed a joint-venture agreement to jointly build and operate 100km inter-city rail transit system costing RM1.23 billion at Iskandar Malaysia in Johor.
The system will also be linked to the Mass Rapid Transit line in Singapore.
Masteel and KUB will hold 60 per cent and 40 per cent stakes, respectively, in the joint-venture company, Metropolitan Commuter Network Sdn Bhd.
The proposed inter-city rail transit will have up to 25 commuter stations in major towns in the Iskandar Malaysia economic corridor in the initial stage.
“We will use the existing Keretapi Tanah Melayu rail and will add four new stations in the growth areas along KTM’s rail path,” said Masteel managing director and chief executive officer Datuk Seri Tai Hean Leng.
Tai said the project would be funded through equity and bond issue and operations of the inter-city rail transit would be based on a 25-year concession period.
Speaking at the signing ceremony, Tai said this was a major infrastructure project in Johor which would undoubtedly be the prized “jewel” of the state as it would greatly boost its connectivity and economy.
KUB managing director Datuk Mohd Nazar Samad said the project would serve KUB Group not only in the construction area, but also in the industrialised building system supply for Kempas Baru development and facility management as well being part of the company’s property, engineering and construction sector.
“Our information, communications and technology sector will also benefit from the integrated IT systems on ticketing, collection and security,” he said.
The project, to be undertaken in three phases, is expected to be completed in 24 months from project commencement.
“We hope the agreement with the government will be completed within this year and we expect to fully operate at the end-2013,” said Tai.
The project has two components: the “Build Transfer” of the rail transit infrastructure and the “Own Operate” of the inter-city train system.
“We are still having discussions to use the suitable electricity train coaches and we are looking at China and European countries,” he said.
On the socio-economic front, Tai said this project would ease traffic congestion, estimated to grow at 4.2 per cent every year along Johor and Singapore.
About 70 per cent of the construction cost of the rail transit infrastructure would be funded under the Public-Private Partnership scheme.
“With this project, we will see constant recurring income and we will be the first private train operator in Malaysia,” Tai added. – Bernama
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