KUALA LUMPUR: The Kuala Lumpur-Singapore high-speed rail (HSR) project will not involve any funding from the government and will be fully led by the private sector, the Dewan Rakyat heard today.
Transport Minister Anthony Loke Siew Fook said this was among the key points decided for the project following a preliminary report provided by MyHSR Corporation Sdn Bhd (MyHSR) to the ministry.
"The HSR project is currently being evaluated by MyHSR and they have provided me with the preliminary report. However, the ministry has yet to assess the report.
"One of the key points we have already decided on is that the project will not involve any government funding and must be financed by the private sector.
"This is the principle we have established. However, we need to examine the financial implications and how far can it be implemented," he said during the minister's question time in the Dewan Rakyat, today.
Loke said this in response to a supplementary question from Khairil Nizam Khirudin (PN-Jerantut) who enquired about the status of HSR following the completion of the Request for Information (RFI) concept proposal in January.
At the same time, Loke added that the report will also be brought to the attention of Prime Minister Datuk Seri Anwar Ibrahim and Cabinet for approval once it is assessed by the ministry.
"Following this, we will review the report and choose the best proposal that can minimize financial implications for the government."
In January this year, NST reported that seven local and international consortia, comprising three firms have submitted the RFI concept proposal for the HSR project.
MyHSR launched the RFI in July 2023 as the Malaysian government explores reactivating the project to construct a 350-km dedicated high-speed line between Kuala Lumpur and Singapore, which was canceled in 2021, under a public-private partnership (PPP) model.
The government is expected to shortlist candidates within several months and start full-fledged negotiations with the Singaporean government at the earliest later this year.
It was reported that the rail project, which would allow a shorter travel time of 90 minutes between Kuala Lumpur and Singapore, will include seven stations in Malaysia, namely, Bandar Malaysia, Sepang-Putrajaya, Seremban, Melaka, Muar, Batu Pahat and Iskandar Puteri; as well as Jurong East in Singapore.
Meanwhile, the prime minister said the government is planning to revive the HSR project with a substantial cost reduction.