Ekovest Construction Scores $447M Deal to Build Johor Bahru-Singapore High-Speed Rail Connection

Ekovest Construction, which is part of tycoon Lim Kang Hoo's property developer Ekovest, has secured its 1.98-billion-ringgit ($447 million) deal to develop a high-speed rail connection between Johor Bahru in the state of Southern Malaysia and Sing[...]

   Vehicles form a long queue to enter the Woodlands Checkpoint in Singapore early on April 1, 2022, ... [+] before crossing the causeway to Malaysia's southern Johor state. Both countries are building a 4-kilometer railway link to decongest traffic at the causeway. 
  ROSLAN RAHMAN/AFP via Getty Images
Cars were lined up to enter the Woodlands Checkpoint in Singapore on April 1, 2022, ... [+] before crossing the causeway to Malaysia's southern Johor state. Both countries are constructing a 4-kilometer railway line to ease traffic at the causeway.

Ekovest Construction—Lim Kang Hoo's property developer Ekovest's unit—has been awarded the contract to build a high-speed railway that will connect the southern Malaysian state of Johor Bahru to Singapore.

The Rapid Transit System Link, when completed by the end of 2026, is expected to transport 10,000 commuters per hour on each direction and will provide an alternative mode of transportation to reduce vehicular traffic across the causeway.

The project has been in the drawing board for years and was originally scheduled to be completed by end-2024. The implementation was suspended in April 2019 after the Malaysian government requested changes to the project's design, before

Ekovest Construction is constructing the Bukit Chagar station right next to the Malaysian immigration and quarantine facility and 2.7 kilometers of railway that links to the Woodlands North MRT station in Singapore. A part of this railway, including the immigration and quarantine facility, is being built in Singapore by contractors including Japan's Penta Ocean and China Communications Construction Co.

The project will help replenish the order book of Ekovest and contribute positively to the group’s earnings, Ecovest said Tuesday in a regulatory

Malaysia's Iskandar Waterfront Holdings, which is owned by Lim Kang Hoo, a cofounder and chairman of Ekovest, is developing a new urban township on 4,000 acres in Johor Bahru. The developer has an estimated net worth of $620 million and ranked No. 28 in the list of Malaysia's 50 Richest released last month.