Japan Backs Singapore High-Speed Bid
The Japanese government is to provide financial backing for a bid for the US$9 billion Kuala Lumpur-Singapore high-speed rail (HSR) project, according to the Nikkei Asian Review.
The mega-project is expected to be the largest ever between Malaysia and Singapore, and is to be a major driver for breakbulk demand in the region. It is also a major source of rivalry with Japan facing tough competition from China, which maintains a dominant role in Singaporean politics.
Japan’s bid features 10 of the largest Japanese infrastructure developers and will be supported by public-private fund Japan Overseas Infrastructure Investment Corp. for Transport and Urban Development (JOIN).
Deadline for tenders for the giant infrastructure project is June 29, with a decision on plans to build, operate and finance the trains and rail assets expected by the end of the year.
Photo: Japan's high-speed bullet trains. Credit: Wikimedia