KUALA LUMPUR MyHSR Corporation Sdn Bhd (MyHSR Corp) is set to issue a request for information (RFI) from private sector consortia to submit concept proposals to develop and operate the Kuala Lumpur-Singapore high-speed rail project through public-private partnership.
In a statement today, MyHSR Corp said the RFI will be opened to local and international consortia to submit their concept proposals, Bernama reported.
“This will allow the government to assess the industry’s interest and ability to fully fund the project by looking into areas such as technical specifications, project costing, commercial and business models, as well as consortium and governance framework,” it said.
The RFI marks the government’s intent to reactivate the KL-Singapore HSR project through new funding mechanisms.
MyHSR Corp chairman Fauzi Abdul Rahman said the project would bring tremendous benefits to the people, particularly in enhancing and expanding economic dynamism from the Klang Valley to the southern corridor of the peninsula, and eventually to the rest of Malaysia.
“In addition to providing a new travel option that is safer, faster, more efficient and sustainable, the project will help us to contribute to the Malaysia Madani agenda, generating long-term growth and sustainability for the people and the nation,” he said.
Meanwhile, MyHSR Corp chief executive officer Nur Ismal Mohamed Kamal said the company looked forward to receiving strong interest and high-quality proposals.
“MyHSR Corp remains committed to supporting the government to identify the most effective solution to revive the project.
“Globally, developments of HSR have proven to be growth engines, bringing about catalytic development and growth as well as multiplier effects that benefit all walks of life,” he said.
The sudden announcement represents a major shift in position for the government, which as recently as March had said any attempt to revive the project would have to come from the private sector.
Transport minister Loke Siew Fook said Prime Minister Anwar Ibrahim had instructed him to discuss the matter, adding that the transport ministry was open to receiving proposals from the private sector.
The prime minister has said that we are open to any proposals, as long as they are private investments. As such, there is no decision yet on reviving the HSR, but we are not stopping it.
The railway project was axed on Jan 1, 2021, by the Perikatan Nasional-led government. Malaysia ended up having to pay Singapore RM320 million in compensation as part of its obligation under the bilateral agreement.