China has expressed interest in participating in Malaysia’s 330km-long Kuala Lumpur-Singapore high speed rail (HSR) link project.
China President Xi Jinping said the project, together with port development and other connectivity projects, were on top of their overseas investment ventures.
He said they were also ready to consider participating in the Northern Economic Corridor development projects.
“The Chinese government will continue to encourage Chinese companies to participate in Malaysia’s railway, port and other connectivity projects.
“The Chinese government is ready to give positive consideration to participate in the Northern Corridor development projects in the appropriate ways,” he said yesterday at a joint press statement with Prime Minister Datuk Seri Najib Tun Razak after their bilateral meeting at the Perdana Putra Building here.
Earlier this year, Malaysia and Singapore announced plans for the rail link, which is expected to cut land travelling time between the two countries to just 90 minutes.
China CSR and CNR won almost all the contracts for latest CNY 60 BILLION tender .(It was planned that among the bidders for the tenders will be only China-based train makers which have licenses for manufacturing high-speed trains)
•Last month, the China Railway Corporation (CRC) opened its first bidding for nearly CNY 60 billion worth of passenger cars, freight cars, locomotives, and multiple units after a two-year suspension since the ‘7.23 train crash incident’ two years ago. This is the first train tender ever released since the reorganization of China’s Ministry of Railways and the establishment of the CRC in this March.
•Peoples close to the CRC said that the preliminary bidding results have come out, with China CSR Corp. (01766: HKG; 601766: SHA) and China CNR Co. (601299: SHA) as the biggest winners.
•A person familiar with the matter unveiled that a majority of the bidding trains this time need to be delivered within this year, indicating that revenues derived from the new orders will be included in the winners’ financial results for 2013.
•According to the plan set in early 2013, the CRC will purchase trains worth CNY 107 billion this year, up 18.9 percent from the previous year. Industry insiders revealed that the CRC will start the second large-scale train procurement later in 2013, with the delivery expected to be completed next year.
Railway traffic during China's seven-day National Day holiday hit record highs with over 70 million passengers, statistics from the China Railway Corporation showed on Monday.
