SINGAPORE: The Kuala Lumpur-Singapore High-Speed Rail (HSR) project made another move forward with the Singapore Land Transport Authority (LTA) yesterday announcing the formation of a wholly-owned subsidiary, SG HSR, to implement the project.
Singapore Transport Minister Khaw Boon Wan said the SG HSR would work closely with its Malaysian counterpart, MyHSR Corp, to implement the project expeditiously.
In a Facebook post, Khaw added: “Together, we shall realise our shared dream of a 90-minute ride from Singapore to Kuala Lumpur in 2026.”
Today Online reported that in the Facebook post, Khaw described the setting up of SG HSR as “another milestone” in the high-speed rail journey.
According to the Today Online report, SG HSR will be Singapore’s infrastructure company for the HSR project, and will build, own, fund and maintain its civil infrastructure.
This includes the HSR station in Jurong East, the tunnels and a share of the connecting bridge over the Straits of Johor, the LTA said.
SG HSR will work with MyHSR Corp to jointly appoint an assets company and an international operator through a fair and open international tender, the LTA added.
When the HSR services start, SG HSR will also administer the various concessions.
The company will have an initial share capital of S$1 million. LTA’s chairman Alan Chan will concurrently be the chairman of SG HSR’s board of directors.
Today Online reported that Rama Venkta, who was the project director of the HSR group in the LTA, had been appointed SG HSR’s managing director.
The HSR from Jurong East in Singapore to Bandar Malaysia in Kuala Lumpur is expected to shorten travel time to about 90 minutes. There will be seven stops in Malaysia, and the 340km line is estimated to cost RM40 billion to build.
The governments of Malaysia and Singapore signed a bilateral agreement on December 13, 2016, on the HSR project.