According to UEM Group Bhd group managing director / chief executive officer Datuk Izzaddin Idris, even though the firm had decided not to participate in the construction of the high speed rail (HSR) project, but it hopes to be involved in its development.
“I think we can contribute positively to the development of the HSR as we have the capability, as well as good track record all these years,” he said.
Notably, the HSR project is expected to spur rapid development along its route, particularly in Iskandar Malaysia. UEM Group, however, will only decide on its participation after the government has unveiled its detailed plan for the HSR project.
Izzaddin revealed that the group is also eyeing opportunities in Batu Pahat and Muar as the two districts will also house two of the eight stations of the 350km rail line.
To kick off the iconic project, Malaysia and Singapore signed a memorandum of understanding on 19 July 2016. Thereafter, the two countries are expected to sign a legally-binding bilateral agreement, which involves great details of the project, by the end of the year.
In a joint statement, Singapore’s Land Transport Authority and the Land Public Transport Commission said they would be calling for an international tender in August to appoint a joint development partner that would provide technical support on joint aspects of the project including integration and interface matters.
With speeds of more than 300km per hour, the HSR is expected to reduce travel time between Singapore and Kuala Lumpur to just 90 minutes.
Aside from Batu Pahat and Muar, the HSR will pass six other stations — Putrajaya, Bandar Malaysia, Ayer Keroh, Seremban, Iskandar Puteri and Singapore.
Slated to operate by 2026, the project has been touted as a ‘game changer’ and is expected to have multiplie effects on Malaysia and Singapore including increased gross national income as well as the creation of job opportunities, which is estimated at 30,000 after its implementation.
Mangalesri Chandrasekaran, Editor at PropertyGuru, edited this story. To contact her about this or other stories email mangales@propertyguru.com.my
