Malaysia’s MyHSR and Singapore’s SG HSR have called a joint tender to select an assets company (AssetsCo) to oversee the Kuala Lumpur-Singapore High Speed Rail (HSR) project.

The governments of the two countries previously signed the Kuala Lumpur-Singapore HSR bilateral agreement in December last year, which aims to build a high-speed railway network between Kuala Lumpur and Singapore.

"The Kuala Lumpur-Singapore HSR project is a complex and extensive transport infrastructure project for both countries, which will generate huge socio-economic benefits arising from the increased connectivity."

The AssetsCo will be responsible for designing, building and managing all rolling stock and associated rail assets for the HSR.

It will also coordinate the system’s network capacity for operations and maintenance needs.

MyHSR CEO Dato’ Mohd Nur Ismal Mohamed Kamal said: “The Kuala Lumpur-Singapore HSR project is a complex and extensive transport infrastructure project for both countries, which will generate huge socio-economic benefits arising from the increased connectivity and travel efficiencies.

“We are delighted with the progress thus far, with the submission of the Section 4 Land Acquisition Act completed, on-going Public Inspection for alignment within Malaysia, recently launched Project Delivery Partner (‘PDP’) and today’s joint tender launch of AssetsCo.”

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By GlobalData

A tender briefing regarding the selection of the new AssetsCo is set to be held on 23 January next year.

Bidders will be invited to submit their proposals until 29 June next year.

Applications will then be evaluated according to various criteria, including technicalities, commercial robustness, financial stability and price.

MyHSR and SG HSR are expected to select a qualified bidder by the end of 2018.