Beijing-based China Railway Rolling Stock has verified that China Railway Corp is leading a consortium which will get involved in the resources firm (AssetsCo) tender for its Singapore-Kuala Lumpur High-Speed Rail (HSR).
Apart from the two above companies, the eight-company consortium comprises CRRC, Export-Import Bank of China, and China Railway Construction Corp, in Addition to China Railway Signal and Communication.
“Judging (by) these companies’ size and assets, they’ll form the biggest group to construct a high-speed railroad network outside China should they win the bid next season,” said Feng Hao, a researcher at the National Development and Reform Commission’s Institute of Comprehensive Transportation.
It will also design and run all of its rail assets like, power, signalling, trackwork, and telecommunications for the double-track line with a speed of 350kmh.
In line with this, both government agencies will jointly hold a tender briefing in Kuala Lumpur on 23 January, and interested bidders have until 29 June 2018 to submit their proposals.
The bids will be assessed based on their price, value-for-money, commercial strength, financial sustainability and technical solutions. The last should prioritise reliability, customer focus, safety and security, as well as operational flexibility.
When the HSR starts operating by 31 December 2026, it is expected to reduce the travel time between Kuala Lumpur and Jurong East in Singapore from four hours by car to only 1.5 hours by train.
When the HSR completed, the projects around the region like Jurong to Bukit Timah will get a boost in their property prices and new under constructing condominiums like Daintree Residence Condo, Le Quest, Twin Vew will be some of the first few to experiment property sentimental according to the NY Times.
According to Beijing Jiaotong University rail transportation professor Du Chunbu, the partnership among major Chinese state-owned companies show they have stopped their stiff rivalry among themselves.
“Instead, they have begun to create a consortium to compete with rivals from Japan, South Korea, Germany and Canada by bringing their specialties into drama”