KUALA LUMPUR: The government is calling for proposals for the proposed evelated autonomous rapid transit system (E-ART) in Iskandar Malaysia via public-private partnership.
Companies registered in Malaysia, including joint-ventures and consortiums with relevant expertise and experience are invited to participate in the Request for Proposal (RFP), according to a statement issued by the Public Private Partnership Unit in the Prime Minister’s Department.
The E-ART project, set to begin in the third quarter of the year, is an initiative to enhance public transport accessibility in Skudai, Tebrau, and Iskandar Puteri, regions that the government has identified as high-impact areas.
A briefing session will be held on March 20, 2025, and all proposals shall be submitted on June 30, 2025.
According to the statement, participating companies must not be more than 49% foreign-owned while a minimum of 30% of their shareholding must be held by Bumiputera.
Eligible companies must have a minimum paid-up capital of RM400,000, a minimum net worth of RM500mil, and a positive cumulative earnings before interest, tax, depreciation and amortisation over the last five years.
They should have access to at least RM750mil in credit facilities from financial institutions.
Lsatly, they are required to have completed at least one contract in the last 10 years with a minimum value of RM500mil in the construction and transport industry. In the case of a joint venture or consortium, at least one member must comply with this requirement.
-TheStar