Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Thursday, April 17, 2008

Scomi: Vietnam set to be major monorail market

HANOI: Vietnam is set to serve as one of three overseas base markets for the Scomi Group's monorail business this year.

The company, via its subsidiary Scomi Engineering Bhd, has already made inroads in India where it has been pre-qualified for a monorail project in Mumbai and Pune and is now setting its sights on Hanoi, Ho Chi Minh City and Danang in Vietnam over the next four to five years.

"We are also looking at the Middle East as another primary market in countries such as Saudi Arabia, Qatar and Bahrain," Scomi Engineering Bhd president Hilmy Zaini told a media briefing here on Tuesday.

HILMY: Scomi is also looking at the middle east

Hilmy said the company has submitted proposals for monorail systems in several cities such as Riyadh and Medina.

Besides the three primary markets which have been targeted, Hilmy said secondary markets could emerge in Africa.

"The monorail systems - which are likely to be adopted by these primary markets - will tap into Scomi's continous technology advancements that will include the second generation new monorail called Sutra (Scomi Urban Transit Rail Application)," he said.

Sutra's composite technology makes it possible to construct a lighter monorail system, which brings down the life-cycle maintenance cost.

Hilmy said in 2006 and 2007, Scomi Engineering has invested close to US$10 million (RM31.60 million) in developing the Sutra.

Earlier, Scomi Engineering signed a collaboration agreement with the Hanoi Metropolitan Rail Metropolitan Rail Management Board (HRB) for the purpose of forming a strategic partnership to prepare a feasibility study on the implementation of a monorail system in Hanoi.

The strategic partnership has been granted an exclusive right by the People's Committee (Hanoi's city government) to prepare a comprehensive proposal on a monorail network to meet the urban transport requirements of Hanoi and integrate other urban transportation systems being implemented in Hanoi.

"The complete proposal is expected to be ready within the next six months," Hilmy said.

The agreement was signed by HRB's director-general Ha Huy Quang and Scomi Transportation Systems Sdn Bhd director Datuk Siddiq Firdause Mohd Ali.

Scomi Transportation is a subsidiary of Scomi Engineering.

Witnessing the inking of the agreement were Hanoi People's Committee vice-chairman Nguyen Van Khoi and Malaysian ambassador to Vietnam, Datuk Lim Kim Eng.

"The execution of this collaboration agreement signifies acceptance and confidence in Scomi's monorail technology," Siddiq said.

By collaborating with HRB, Siddiq expressed confidence that Scomi Engineering will achieve the primary objective of offering a viable urban transport solution to the people of Hanoi, as well as value-add through transfer of technology and related training to Vietnam.

By New Straits Times (by Marina Emmanuel)

No comments: