Both countries will jointly award the tender for a Joint Development Partner for the HSR project in early 2017, said Prime Minister Najib Razak.
The agreement formalised the technical, safety and security, commercial, financing, procurement, and CIQ aspects, Najib added.
The HSR agreement was signed by Singapore Coordinating Minister for Infrastructure and Minister for Transport Khaw Boon Wan and Malaysia’s Minister in the Prime Minister’s Department Abdul Rahman Dahlan.
The leaders also agreed that the proposed Johor Bahru-Singapore Rapid Transit Link project will involve high bridge solutions.
The 7th Malaysia-Singapore Leaders’ Retreat kicked off in Putrajaya today, with a meeting between Najib and his Singaporean counterpart Lee Hsien Loong.
Lee, who was accompanied by several ministers and senior officials, then proceeded to a delegation meeting with Najib’s delegation to discuss bilateral issues of mutual concern and review the progress of existing bilateral cooperation.
The discussion was also to build on the momentum of discussions held and initiatives agreed upon during the 2015 Leaders’ Retreat.
Both countries inked a memorandum of understanding on the HSR project on July 19 this year to pave the way for the project where travellers can reach the end destination between the two cities in just 90 minutes.
Construction work on the 350km rail line is expected to begin next year and will be operational in 2026, to boost connectivity, enhance people-to-people ties and improve business linkages between the two countries.
It will have eight stops, namely Bandar Malaysia, Putrajaya, Seremban, Ayer Keroh, Muar, Batu Pahat, Iskandar Puteri and Singapore.
This evening, Najib is hosting an official dinner in conjunction with the 7th Malaysia-Singapore Leader’s Retreat at Seri Perdana.
The Leaders’ Retreat is an annual event hosted rotationally between Malaysia and Singapore.
The inaugural Leaders’ Retreat was held in May 2007 in Langkawi and has since been a forum for both countries to further strengthen bilateral relations.
In 2015, Singapore was Malaysia’s second largest trading partner globally, with total trade between the two countries recorded at US$59.5 billion (then RM190.6 billion).