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THE Land Transport Authority (LTA) said on Thursday that it has formed a wholly-owned subsidiary - SG HSR Pte Ltd - to implement the Kuala Lumpur - Singapore High Speed Rail (HSR) project.
SG HSR - which will have an initial share capital of S$1 million - will be Singapore's infrastructure company for the HSR project, and will build, own, fund and maintain the civil infrastructure in Singapore. This includes the HSR station in Jurong East, the tunnels and a share of the connecting bridge over the Straits of Johor.
SG HSR will work with its Malaysian counterpart, MyHSR Corp, to jointly appoint an assets company and an international operator through a fair and open international tender. When HSR services commence, SG HSR will also administer the various concessions.
"SG HSR will provide stronger management focus and dedicated resources to handle the complexities of the project and meet the ambitious 2026 timeline," Ngien Hoon Ping, LTA Chief Executive Officer, said.
SG HSR will work under the close guidance of the LTA and the Ministry of Transport to ensure smooth implementation of the HSR project. Alan Chan, LTA Chairman, will concurrently be the Chairman of SG HSR's Board of Directors. Richard Lim, LTA Deputy Chairman, will concurrently hold the appointment of SG HSR Deputy Chairman.
The Kuala Lumpur - Singapore HSR is a strategic project between the governments of Malaysia and Singapore that aims to facilitate a 90-minute travel time between Kuala Lumpur and Singapore.