SINGAPORE - Six Singapore companies have teamed up to bid for high speed rail projects, the companies and International Enterprise (IE) Singapore said on Sunday (July 2).
The six companies are Clifford Capital, DBS, Sembcorp Design & Construction, SMRT International, Surbana Jurong and Singapore Technologies Electronics (ST Electronics).
The companies have plans to collaborate with international players to "jointly participate in high speed rail projects starting with the Kuala Lumpur-Singapore high-speed rail (KL-SG HSR)", they said in a statement.
The 350km rail project between the Governments of Singapore and Malaysia is expected to be operational by 2026.
IE Singapore said that it brought together the companies to help "capture global opportunities" in view of the HSR's significance and potential.
"The partnership leverages unique strengths of each company, enabling them to expand into the high speed rail segment," IE Singapore said.
"Together, their solutions cover the entire value chain of financing, design, construction, system integration, operations and maintenance."
Said Mr Yam Ah Mee, CEO of Sembcorp Design & Construction, "By banding together, we have a stronger value proposition, combining many years of track record across the rail value chain.
"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."
Said Mr Kow Juan Tiang, group director of environment and infrastructure solutions at IESingapore: "Transport infrastructure accounts for 25 per cent of the US$4.3 trillion (S$5.9 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 Land Transport Authority and Malaysia's MyHSR Corporation will conduct an industry briefing on July 5 to outline parameters of the upcoming AssetsCo tender for the KL-SG HSR.
The AssetsCo will be responsible for the design, build, finance and maintenance of rolling stock and the design, build, finance, operations and maintenance of all rail assets such as track work, power, signalling and telecommunications, and includes network operations.
The tenders for the project are expected to be called by end 2017.