Singapore Forms New High-Speed Rail Infrastructure Company
The Land Transport Authority (LTA) has announced that it has formed a wholly-owned subsidiary – SG HSR – to implement the Kuala Lumpur-Singapore High Speed Rail (HSR) project.
SG HSR will be Singapore’s Infrastructure Company for the HSR project, and will build, own, fund and maintain the civil infrastructure in Singapore. This includes the HSR station in Jurong East, the tunnels and a share of the connecting bridge over the Straits of Johor. SG HSR will work with its Malaysian counterpart, MyHSR Corp, to jointly appoint an Assets Company and an International Operator through a fair and open international tender. When HSR services commence, SG HSR will also administer the various concessions.
Mr Ngien Hoon Ping, LTA Chief Executive, said:
“The HSR is an exciting bilateral project that will bring Singapore and Malaysia closer, and allow people to connect more conveniently and efficiently for business and leisure. SG HSR will provide stronger management focus and dedicated resources to handle the complexities of the project and meet the ambitious 2026 timeline. SG HSR will work under the close guidance of the LTA and the Ministry of Transport to ensure smooth implementation of the HSR project”
Kuala Lumpur-Singapore High-Speed Rail
The Kuala Lumpur-Singapore HSR is a strategic project between the Governments of Malaysia and Singapore that aims to facilitate a 90-minute travel time between Kuala Lumpur and Singapore. The project is expected to enhance business linkages and bring the people of both countries closer. The Governments of both countries signed a Bilateral Agreement on 13 December 2016 which captured the key points of agreement on the project, including the technical parameters, commercial model, customs, immigration and quarantine clearance, safety and security matters, regulatory framework and project management approach. As part of the next phase of the project preparation, the Governments of Malaysia and Singapore have tasked MyHSR Corp and SG HSR respectively to implement the project.
About SG HSR
SG HSR is Singapore’s Infrastructure Company for the Kuala Lumpur-Singapore High Speed Rail Project, and is a wholly-owned subsidiary of the LTA. It will build, own, fund, operate and maintain the civil infrastructure in Singapore, and will also jointly appoint the Assets Company and the International Operator with MyHSR Corp, through fair, open and transparent international tenders.
Original article © LTA.
FOR ALL THE LATEST INFORMATION, NEWS, IMAGES, VIDEOS AND ARTICLES ON ALL ASPECTS OF INFRASTRUCTURE, PLEASE CLICK HERE.
