PETALING JAYA (March 1, 2013): Malaysia Steel Works (KL) Bhd (Masteel) said its joint venture (JV) company with KUB Malaysia Bhd has received an offer from the Transport Ministry for 14.31ha of land owned by Railway Assets Corp (RAC) in Kempas, Johor for the JV to construct its Iskandar Malaysia commuter train depot.
“MCN has submitted the necessary application to RAC to apply for the said land and is awaiting their reply,” said Masteel in a filing with Bursa Malaysia yesterday.
“MCN has (also held) meetings with Unit Kerjasama Awam dan Swasta under the purview of the Prime Minister’s Department to prepare the necessary working paper for the Cabinet’s approval,” it added.
This follows an agreement Masteel had on Jan 19, 2011 signed with KUB to form a JV company called Metropolitan Commuter Network Sdn Bhd to jointly pursue a rail transit network project in Iskandar Malaysia, Johor.
Masteel said the two companies are “desirous of submitting a joint proposal for the project to the government”.