{"id":1520,"date":"2016-12-15T15:28:07","date_gmt":"2016-12-15T15:28:07","guid":{"rendered":"https:\/\/masteel.investor.net.my\/?p=1520"},"modified":"2017-03-22T15:29:40","modified_gmt":"2017-03-22T15:29:40","slug":"thesundaily-firm-explains-decision-to-drop-johor-rail-project","status":"publish","type":"post","link":"https:\/\/masteel.investor.net.my\/thesundaily-firm-explains-decision-to-drop-johor-rail-project.html","title":{"rendered":"[TheSunDaily] Firm explains decision to drop Johor rail project"},"content":{"rendered":"<p><strong>PETALING JAYA:<\/strong> Malaysia Steel Works (KL) Bhd (Masteel) told Bursa Malaysia in a filing yesterday a long gestation period and an impasse with the Economic Planning Unit (EPU) on the addition of \u201csocial routes\u201d had led it to abort its Johor commuter train project.<\/p>\n<p>The proposed intra-city commuter train service in Iskandar Malaysia, which would involve 100km rail network, was first reportedly approved by the Johor government in 2011.<\/p>\n<p>Last month, however Masteel and joint venture partner KUB Malaysia Bhd mutually agreed to terminate the deal for the proposed RM1.23 billion rail transit network.<\/p>\n<p>Masteel revealed in its announcement that since the presentation of the Johor commuter train project to the Economic Council (EC) on Aug 8, 2011, the joint venture parties had followed the direction of the EC to finalise certain issues with the Transport Ministry.<\/p>\n<p>It said after coordinating with three ministers of transport, they finalised its proposal early this year for retabling to the EC.<\/p>\n<p>\u201cIn a meeting with the Economic Planning Unit (EPU) on April 15, 2016 to discuss the retabling of the parties proposal to the EC, the parties was informed to undertake the addition of \u2018social\u2019 routes for its Johor commuter train services.<\/p>\n<p>\u201cAfter due consideration, the parties had concluded that the additional routes will render the project economically unviable,\u201d it noted.<\/p>\n<p>Masteel said the decision to terminated the agreement was on the basis that all efforts made by the parties to date with the government have not yielded a definitive timeline for the satisfactory conclusion of the project.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PETALING JAYA: Malaysia Steel Works (KL) Bhd (Masteel) told Bursa Malaysia in a filing yesterday a long gestation period and an impasse with the Economic Planning Unit (EPU) on the addition of \u201csocial routes\u201d had led it to abort its Johor commuter train project. The proposed intra-city commuter train service in Iskandar Malaysia, which would [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>[TheSunDaily] Firm explains decision to drop Johor rail project - Malaysia Steel Works IR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/masteel.investor.net.my\/thesundaily-firm-explains-decision-to-drop-johor-rail-project.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"[TheSunDaily] Firm explains decision to drop Johor rail project - Malaysia Steel Works IR\" \/>\n<meta property=\"og:description\" content=\"PETALING JAYA: Malaysia Steel Works (KL) Bhd (Masteel) told Bursa Malaysia in a filing yesterday a long gestation period and an impasse with the Economic Planning Unit (EPU) on the addition of \u201csocial routes\u201d had led it to abort its Johor commuter train project. 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