The project is in the early phases of design and land acquisition, and is reportedly valued at about US$17 billion (RM67 billion).
The HSR is expected to start operations from 2026.
Nur Ismal said the HSR was not merely a transport and infrastructure project, but rather a socio-economic development project.
MyHSR’s Project Delivery Partners (PDPs) are Malaysian Resources Corp Bhd–Gamuda Bhd (MRCB Gamuda consortium) and Syarikat Pembenaan Yeoh Tiong Lay Sdn Bhd–TH Properties Sdn Bhd (YTL-THP consortium).
The PDPs will be responsible for infrastructure works in the northern and southern stretches, with a 50:50 scope in work packages.
Asked on the need to have two PDPs, Nur Ismal said it was due to the sheer size of the project as well as the aspect of risk management.
“The two PDPs were selected via an open tender process, which was open to locally-registered companies with CIDB class 7 and experience in rail constructions,” he said, adding that three consortia made bids and the top two were selected.
“Both PDPs will also help procure contractors for the work packages.”
He said MyHSR Corp would like to create more players that had experience and credentials in HSR development.
“In terms of risk management, we thought it was better to split (the project) into two PDPs. They will also have tighter control on the areas under their jurisdiction.”
It is estimated that the HSR project would result in spillovers of up to RM650 billion to the gross national income and create 442,000 jobs by 2069 if the coverage area incorporates comprehensive master planning, including transit-oriented developments and hub zones within a 5km radius of the HSR stations.
MyHSR Corp has worked with key authorities since 2016 to develop socio-economic development programmes for inclusive and sustainable growth along the Kuala Lumpur-Singapore HSR corridor.