KUALA LUMPUR: Malaysia Steel Works (KL) Bhd’s (Masteel) joint venture with KUB MALAYSIA BHD [ ] and Metropolitan Commuter Network Sdn Bhd (MCN) has received an offer of land under Perbadanan Aset Keretapi (PAK) from the transport ministry.
The 14.31ha parcel in Kempas, Johor will be used to construct MCN’s Iskandar Malaysia commuter train depot.
In a filing with Bursa Malaysia yesterday, Masteel said MCN would submit the necessary application to PAK for the land.
“The size of the land is sufficient for MCN’s depot CONSTRUCTION [ ] and is strategically located in Johor for the efficient operation of the company’s proposed commuter train service,” said Masteel.
In January last year, Masteel and KUB entered into a JV agreement where Masteel and KUB would hold 60% and 40% equity interest respectively.
The JV is to build and operate a 100km inter-city rail transit system in Iskandar Malaysia with a connection to the MRT line from Singapore.