SINGAPORE (Dec 20): SG HSR, a wholly-owned subsidiary of Singapore’s Land Transport Authority (LTA), and MyHSR Corporation of Malaysia have called a joint tender for a private-financed assets company (AssetsCo) to work on the Kuala Lumpur-Singapore High Speed Rail (HSR) project.

Under the tender requirements, the contracted AssetsCo will be responsible for designing, building, financing and maintaining all rolling stock, as well as the designing, building, financing, operating and maintaining all rail assets – such as track work, power, signalling and telecommunications – for the KL-SG HSR project.  

It will also be responsible for coordinating the system’s HSR network capacity for operations and maintenance needs, adds LTA.

A tender briefing will be held in KL on 23 Jan 2018, where MyHSR Corp and SG HSR aim to jointly select a qualified bidder by the end of next year.

Bidders will have until 29 June 2018 to submit their proposals, which will be evaluated for their technical solution, commercial robustness, financial sustainability and price.  

In a press release on Wednesday, Singapore’s Land Transport Authority (LTA) says the move comes after extensive preparations by both MyHSR Corp and SG HSR since the KL-SG HSR bilateral agreement was signed by both nations’ governments in Dec 2016.

In particular, the authority emphasises the tender’s intention to identify an AssetsCo which will “provide a solution that prioritises safety and security, availability and reliability, proven technology, operations flexibility, customer centric design, value for money, and collaborative project implementation with MyHSR Corp and SG HSR”.

It highlights that every bid will be assessed on its own merits – and that the interest of all companies, be they based in Malaysia, Singapore or overseas, is welcome.

It was previously announced that IE Singapore had brought together portfolio companies of state-owned fund Temasek Holdings, including DBS, Sembcorp Industries and ST Engineering, to jointly participate in HSR projects beginning with the KL-SG HSR.  

See: Malaysia-Singapore HSR tender to be called on Aug 22

See: Temasek portfolio companies establish partnership for joint participation in KL-Singapore High Speed Rail

“Today marks a major milestone for this game-changing project, which will dramatically improve connectivity between Singapore and Malaysia. We are heartened by the enthusiastic response from the market for the Kuala Lumpur-Singapore HSR so far. Their feedback at the two Industry Briefings has been valuable in helping us design the parameters of the AssetsCo tender. We look forward to receiving high-quality competitive bids in the coming months,” says Rama Venkta, SG HSR Managing Director.

More information regarding the details of the joint tender can be found on the websites of MyHSR Corp and SG HSR.