KUALA LUMPUR, Jan 19 (Bernama) -- Malaysia Steel Works (KL) Bhd (Masteel) and KUB Malaysia Bhd Wednesday signed a joint-venture agreement to jointly build and operate 100km inter-city rail transit system costing RM1.23 billion at Iskandar Malaysia in Johor.
The system will also be linked to the Mass Rapid Transit line in Singapore.
Masteel and KUB will hold 60 per cent and 40 per cent stakes, respectively, in the joint-venture company, Metropolitan Commuter Network Sdn Bhd.
The proposed inter-city rail transit will have up to 25 commuter stations in major towns in the Iskandar Malaysia economic corridor in the initial stage.
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