BTS Group Holdings has informed the Stock Exchange of Thailand (SET) that it has signed a Heads of Agreement (HOA) with several foreign companies to build and operate a light-rail transit (LRT) system. The network will connect with a railway shuttle link currently being built from Singapore to Johor Bahru in Malaysia.
Other participating companies include Sinar Bina Infra SDN Berhad, Ancom Berhad, Nylex Malaysia Berhad and LBS Bina Group Berhad.
The property and construction group said the collaboration will include integrated property development using the “transit-oriented development” (TOD) concept in the Johor Bahru metropolitan region.
The group also noted that the LRT project is subject to a feasibility study and the Johor state government granting its concession award.
The parties entered into the HOA for the purpose of recording the salient terms of the proposals, which would be incorporated into definitive agreements.
According to the HOA, Nylex will appoint BTS to commission a feasibility study on the commercial viability of a transport-oriented development in the Johor Bahru metropolitan region.
The planned LRT project is projected to have an hourly carrying capacity of about 15,000 passengers per direction, matching that of the RTS Link currently being built to connect Singapore to Johor Bahru. It could span up to 75 km, with the initial phase within the Johor Bahru city center running around 9 km.