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Malaysia MRT project to attract investors?

Written by Ibitoye

Officially approved in December 2010, TheĀ Klang Valley Mass Rapid Transit (KVMRT) project involves the construction of a rail-based public transport network which is expected to form the backbone of the Greater Kuala Lumpur/Klang Valley region. It will also have strategic integration with KL’s existing rail transport network, namely the LRT, Monorail and KTM Komuter, as well as intra and inter-city bus routes.

The project was proposed to include 3 MRT lines. The first is the Sungai Buloh-Kajang line which was officially launched on 8 July 2011 and is still under construction. The other two lines are under further studies awaiting for approval.

This Mass Rapid Transit system is the largest infrastructure project in Malaysia and is expected to significantly improve the coverage of rail-based public transport in the Klang Valley and enable 50% of all trips in the Greater Kuala Lumpur/Klang Valley to be done on public transport by 2020, from the current 17%. Upon completion, it will comprise 31 stations, and serve 1.2 million people along the route.

As of July 2014, The star online newspaper reports that the MRT Corp asserts that its overall progress of the MRT is currently at 47.63%. The elevated station progress stands at 37.24% and the underground station at 63.34%. The corporation also said during a presentation that the total expenditure for the project stands at over RM8 billion as of June 30, 2014.

With the development of a faster, cheaper and mass accommodating public transport of this kind, it can be said to cut cost of transportation and discourage the use of multiple private cars. This will make transport easily available and bring about influx of people thereby attracting investors to provide services to satisfy their needs. This, together with its inclusion of underground trains will help facilitate good traffic on roads and make transportation faster.

Furthermore, this project has positive implications on the construction industry since this rail system will cut along remote areas, that otherwise weren’t accessible. This will promote construction of new office buildings, shops, and others in these areas, and in turn give rise to more businesses. It can also be said to improve the workforce industry by providing employment opportunities for people involved in providing services on the trains and at the stations.

–Edited by Kristine Diaz

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