Kuala Lumpur-Singapore High-Speed Rail will contribute RM21 billion growth in GDP, says SPAD CEO.
KUALA LUMPUR: The Kuala Lumpur-Singapore High-Speed Rail (HSR) is expected to contribute RM21 billion growth in gross domestic product (GDP) to Malaysia and Singapore by 2060.
It will also create 111,000 jobs by then.
Land Public Transport Commission (SPAD) chief executive officer Mohd Azharuddin Mat Sah said the HSR was a game-changer and would pull isolated regions closer and spur growth.
It will help several towns along the way to develop and unleash their hidden potential by making them highly accessible, not just to tourists, but also to workers and investors.
He spoke at his opening keynote address at the 4th International Summit of the HSR Asia 2017 here today.
“We expect the HSR to substantially increase the number of travellers across the two countries.”
He said there was much pent-up demand for travel between Kuala Lumpur and Singapore, as seen by the number of cross-border buses and flights between the two cities.
“Introducing the rail into the equation will offer a competitive option that promises to save not just time but will lead to many other opportunities,” he said.
Nevertheless, he said, there were complex issues to be worked out, including funding options, network expansion, capacity increment, communications and signalling, and safety and security.
He said that together with its counterpart, Land Transport Authority of Singapore (LTA), SPAD would ensure that safety remained the key consideration in the design and operations of the HSR.
Azharuddin said following the success of the first industry briefing held in Singapore on July 5 this year, MyHSR Corp Sdn Bhd and LTA would jointly conduct a second briefing in preparation for the HSR tender.
“The second briefing is scheduled for Sept 26, 2017.
“It will provide in-depth information on technical, commercial and project governance aspects of the project.
“It will also serve as a platform to share key features of the project with the industry and interested participants.”
He said Malaysia and Singapore were expected to sign a bilateral agreement for the Johor Bahru-Woodlands Rapid Transit System Link project this December.
“This cross-border rail project is important as it serves to provide relief to the perpetually-congested causeway, one of the world’s busiest land checkpoints,” he said.
The two-day summit, beginning today, discussed the challenges and opportunities in high-speed rail and rail construction in Asia, based on the success of other countries.
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