China vies for high-speed railway project in Malaysia
china.org.cn / chinagate.cn by Chen Xia, May 25, 2016 Adjust font size:
Sheng Guangzu, CRC general manager, heads up the Chinese railway delegation to Malaysia. [File photo]
A delegation of major Chinese railway companies began a visit to Malaysia on Monday in a bid to win a multi-billion-dollar high speed railway project.
The Kuala Lumpur–Singapore High Speed Rail (HSR) project has attracted great attention from Chinese companies.
The delegation visiting Malaysia is composed of representatives from China Railway Corporation (CRC), China Railway Rolling Stock Corporation (CRRC), China Railway Construction Corporation (CRCC), China Railway Signal & Communication Corporation (CRSC) and several financial institutions.
Their competitors are from Japan, South Korea and Europe.
The bidding result remains unknown, but Chinese companies have been competitive, said an anonymous person from CRC. The Chinese companies have shown a strong ability to control costs while building China’s gigantic railway network and have proposed an appealing funding plan for the HSR project.
Due to a deficiency of money, funding capability has become a major factor in the bidding.
Connecting Kuala Lumpur with Singapore, the HSR rail is designed to extend 356.1 kilometers and will cost about 74.5 billion yuan (US$11.37 billion). According to the latest announcement from the Malaysian authorities, the project will start in 2017 and be completed by 2020.