Government Eyes Majority Stake in CRRC Malaysia for RM10.7b KTM Train Lease Plan
The government plans to acquire a 51% stake in CRRC Rolling Stock Center (Malaysia) Sdn Bhd under a RM10.7 billion proposal to lease 62 passenger train sets for Keretapi Tanah Melayu Bhd (KTM). According to the Public Accounts Committee, the cabinet approved the plan in August 2023, but negotiations with CRRC have yet to begin. The 30-year leasing deal includes maintenance, technology transfer, local content, and 40% Malaysian workforce participation. While the first phase will proceed via direct negotiation, open tenders are planned for subsequent phases. The trains are expected to be delivered by 2027.
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