6 Singapore firms to establish partnership for KL-Singapore High-Speed Rail

6 Singapore firms to establish partnership for KL-Singapore High-Speed Rail

SINGAPORE: Six local companies will partner ahead of the assets company (AssetsCo) tender for the Kuala Lumpur-Singapore High-Speed Rail (KL-Singapore HSR) project, the companies announced together with IE Singapore on Sunday (Jul 2). 

According to a joint media release, the companies are Clifford Capital, DBS, Sembcorp Design and Construction, SMRT International, Surbana Jurong and Singapore Technologies Electronics. 

IE Singapore has brought them together as part of "its role to help Singapore companies capture global opportunities". 

"The partnership leverages unique strengths of each company, enabling them to expand into the high-speed rail segment. Together, their solutions cover the entire value chain of financing, design, construction, system integration, operations and maintenance," the release read. 

The companies plan to partner international players to jointly participate in the KL-SG HSR.

"By banding together, we have a stronger value proposition, combining many years of track record across the rail value chain," said Mr Yam Ah Mee, CEO of Sembcorp Design and Construction. 

"We plan to work with international partners with relevant rail experience as we participate in various aspects of the KL-SG HSR. Our wealth of local operating knowledge in Malaysia and Singapore is complementary," Mr Yam added. 

Mr Kow Juan Tiang, director of the Environment and Infrastructure Solutions Group, IE Singapore, said: "Transport infrastructure accounts for 25 per cent of the US$4.3 trillion in global infrastructure spending in 2016. The high-speed rail sub-segment is a key growth area.

"Singapore companies can access this space through this strategic project between Malaysia and Singapore. This partnership between the six companies is crucial for building capabilities in new infrastructure verticals."

The KL-Singapore HSR is slated to be operational by end-2026. 

The Land Transport Authority and Malaysia's MyHSR Corporation will conduct an industry briefing on Wednesday to outline parameters of the AssetsCo tender for the project. 

The AssetsCo will be responsible for designing, building, financing and maintaining all rolling stock as well as rail assets such as power, signalling and telecommunications.

The tenders for the project are expected to be called by end-2017.