LONDON • A memorandum of understanding (MOU) to facilitate the High-Speed Rail (HSR) project between Singapore and Malaysia is expected to be signed in July, Prime Minister Najib Razak has revealed.
"We expect to sign the MOU with Singapore in July. That's the target," he said at a Bursa Malaysia private breakfast session with fund managers at Marlborough House in London on Monday.
In his opening remarks to about 30 top UK fund managers, Datuk Seri Najib said the project would cut travelling time from Singapore to Kuala Lumpur to about 90 minutes, reported Bernama news agency. The project "has aroused a lot of excitement worldwide", he said.
He cited the project as one of the many projects being implemented in Malaysia to improve the country's infrastructure and boost the economy. The other projects highlighted by Mr Najib were the Pan-Borneo Highway, the Penge- rang Refinery and Petrochemical Integrated Development project, and the Malaysian Vision Valley project in Nilai, Negri Sembilan, though he did not provide further details.
Citing diplomats, the New Straits Times reported that the signing of the document was expected to be witnessed by both Mr Najib and Singapore Prime Minister Lee Hsien Loong in Kuala Lumpur.
Signing of the MOU will pave the way for detailed negotiation of the main agreement on the planning, development and execution of the High-Speed Rail linking the two countries, as well as operations.
The proposed 350km-long HSR line will begin in Bandar Malaysia and end at Jurong East in Singapore, reported Bernama.
Construction work on the HSR has been scheduled to begin next year and completion of the project is slated for 2022.