KUALA LUMPUR:'' The Iskandar Malaysia authority is studying the viability of a 500-km long mass rapid transit (MRT) project in the sprawling development region, which would initially link the line to Johor Baru.
An official said on Tuesday, April 12 at the Invest Malaysia conference that the MRT line would be built over six phases and the first phase would be completed by 2020.
To recap, in January this year, Malaysia Steel Works (KL) Bhd (Masteel) and KUB MALAYSIA BHD [] (KUB) proposed to build and operate a 100km inter-city rail transit system in Iskandar Malaysia which will connect to the MRT line from Singapore.
The companies had said the project could cost over RM1 billion and consists of up to 25 commuter stations in major towns in the Iskandar Malaysia region in the initial stage.
"The operation of the inter-city rail transit shall be based on a 25-year concession," they said in the statement after the signing of the head of joint venture agreement to undertake the project.
Masteel and KUB would hold 60% and 40% equity stakes respectively in the JV company, Metropolitan Commuter Network Sdn Bhd. The project would be undertaken in three phases and completed within 24 months from project commencement.
An official said on Tuesday, April 12 at the Invest Malaysia conference that the MRT line would be built over six phases and the first phase would be completed by 2020.
To recap, in January this year, Malaysia Steel Works (KL) Bhd (Masteel) and KUB MALAYSIA BHD [] (KUB) proposed to build and operate a 100km inter-city rail transit system in Iskandar Malaysia which will connect to the MRT line from Singapore.
The companies had said the project could cost over RM1 billion and consists of up to 25 commuter stations in major towns in the Iskandar Malaysia region in the initial stage.
"The operation of the inter-city rail transit shall be based on a 25-year concession," they said in the statement after the signing of the head of joint venture agreement to undertake the project.
Masteel and KUB would hold 60% and 40% equity stakes respectively in the JV company, Metropolitan Commuter Network Sdn Bhd. The project would be undertaken in three phases and completed within 24 months from project commencement.
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