Wednesday, September 22, 2010

Kuala Lumpur-Singapore high-speed rail link project may come back

PETALING JAYA: Among the larger projects that could come about as a result of the Economic Transformation Programme (ETP) are the building of the mass rapid transit (MRT) system and the once-shelved high-speed rail between Kuala Lumpur and Singapore.

The ETP has also laid down plans to make Malaysia the number one Asian hub for oil field services, cleaning up and beautifying the capital city’s rivers, building a 7km shopping strip with covered walkways and identifying sites for the country’s first nuclear power plant.

These are some of the 131 “entry point projects” spanning 11 national key economic areas (NKEAs), ranging from electronics to agriculture, that would generate big results fast, the Performance Management and Delivery Unit (Pemandu) said.

It added that the investments would be led by the private sector and the Government would play a facilitative role in ensuring that these projects get off the ground.

The oil, gas and energy NKEA alone is expected to raise its contribution to the total gross national income (GNI) to RM241bil by 2020 from RM110bil in 2009.

This will require about RM218bil in funding, most of which would come from the private sector.

Part of the plans for this sector is to consolidate all domestic fabricators to increase their likelihood of winning major contracts.

It is understood that this will entail a merger of existing oil and gas fabricators owned by companies such as Kencana Petroleum Bhd, Malaysia Marine & Heavy Engineering Sdn Bhd, Ramunia Holdings Bhd, Sime Engineering Bhd, Boustead Heavy Industries Corp Bhd, Oilcorp Bhd and Brooke Dockyard and Engineering Works Corp.

*Taken from NST Online

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