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Malaysia to decide by this year on HSR link with Singapore, shortlisting private consortiums to back project: minister
SINGAPORE: Malaysia will decide by this year whether it’s full steam ahead with plans for a high-speed rail (HSR) line between Kuala Lumpur and Singapore, as it shortlists proposals from a narrowing list of private consortiums to back the project, an official has confirmed.
In a Wednesday (Jul 17) interview, Transport Minister Anthony Loke expressed hope that the Cabinet would decide on the viability of the multi-billion dollar project by the end of the fourth quarter.
“Once we have a policy decision to proceed with the high-speed rail, we will start negotiations with Singapore,” he said, as quoted in local media.
Mr Loke added that the government has already shortlisted three out of seven consortiums that submitted proposals following a request for information issued late last year.
He did not reveal the names of the associations, though he confirmed that the government’s policy is to award the HSR project to a group that is at least 51 per cent owned by Malaysian firms.
In March, regional news platform The Edge reported that separate proposals led by YTL Corp, Berjaya Land Bhd, and China Railway Construction Corporation had been shortlisted for the project.
Berjaya Rail, a subsidiary of Berjaya Land, announced it had joined the Malaysia Rail Industry Corporation (MARIC) as a new member on Wednesday. MARIC is an association of 50 key rail companies with the objective of establishing private-public collaboration in building railway networks.
The 350km-long HSR project, which can travel up to a speed of 350km/h, was first proposed in 2013 and led to a binding agreement inked in December 2016 with an aim to have the line operational by 2026.
However it was initially discontinued after multiple postponements at Malaysia's request and an eventual lapsing of an agreement in December 2020.
Malaysia paid more than S$102 million (US$75.8 million) in compensation to Singapore for the terminated project.
Talk of a resurrection gained strength after Malaysia Prime Minister Anwar Ibrahim took power following the 2022 elections and his visit to Singapore early last year where he met with Singapore leaders.
On Aug 3 last year, then-Acting Transport Minister Chee Hong Tat said in parliament that Singapore was willing to discuss any new proposal from Malaysia for the KL-SG HSR project in good faith, “starting from a clean slate”.
In December last year, the Sultan of Johor, Ibrahim Iskandar, who became Malaysia’s king in January, advocated for the revival of the project, suggesting it be routed via Forest City, a mega-development in which he owns a stake.
The HSR aims to reduce travel time between Kuala Lumpur and Singapore to 90 minutes from more than four hours by car.
As a government-funded project, it is estimated to cost up to RM100 billion (US$21.4 billion). Mr Loke suggested the cost could be lower depending on the selected proposal.
However, he cautioned that while the government is not ruling out assistance, it is not keen on providing a guarantee due to concerns over increasing the country’s debt burden.
He added that the HSR could eventually connect with another project, Malaysia’s China-backed US$10-billion East Coast Rail Link (ECRL), set to connect the east and west coasts of Peninsular Malaysia by the end of 2026, with services expected to launch the following year.
He also mentioned discussing a proposal with Thailand to connect to its rail network, ultimately aiming to link more of Southeast Asia to China by rail.
“I’m sure we can continue to push and to continue to convince our counterparts from Thailand, Laos to take part in this whole thing,” he said.
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19-Jul 2024 Friday
10:41 AM (51 days ago)
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