Gamuda bags RM1.77 bil Singapore MRT project

• This project is part of Singapore’s 15-kilometre (km) Cross Island Line Phase 2 (CRL2) Mass Rapid Transit (MRT) line, which is also Singapore’s eighth MRT line, comprising six stations.

KUALA LUMPUR (Dec 6): Gamuda Bhd’s Singapore branch (GBSG), an operating unit of the group, has secured a S$509.568 million (RM1.77 billion) design and construction contract for the West Coast station and tunnel.

This project is part of Singapore’s 15-kilometre (km) Cross Island Line Phase 2 (CRL2) Mass Rapid Transit (MRT) line, which is also Singapore’s eighth MRT line, comprising six stations.

In a Wednesday bourse filing, the construction giant announced that the contract, awarded by the Singapore Land Transport Authority (LTA), includes the construction of one underground station and two tunnels, covering approximately 1.9km.

The commencement date for the West Coast station and tunnels project is scheduled within the first quarter of 2024, with completion expected by 2032, according to Gamuda.

Gamuda said that the main risks for the West Coast station and tunnel project are similar to several MRT stations and tunneling projects successfully completed for LTA in comparable ground conditions. The project will utilise two slurry tunnel boring machines for the tunneling works, with station excavations involving rock removal.

“The West Coast station & tunnel project is anticipated to make a positive contribution to the revenue and earnings of the Gamuda group for the financial year ending July 31, 2024,” it added.

In a separate statement released on Wednesday, Gamuda said the latest project marks its first independent venture in Singapore without joint venture partners, showcasing the group’s strong delivery track record in the region and solidifying its role as a key player in the city-state’s transportation infrastructure development.

This is also Gamuda’s second railway project in Singapore, after the Defu station and tunnels, and its third infrastructure project after the Gali Batu multi-storey bus depot.

Shares in Gamuda closed one sen or 0.23% lower at RM 4.41 on Wednesday, giving the group a market capitalisation of RM11.9 billion. However, the stock has risen 21.11% year to date.

Looking to buy a home? Sign up for EdgeProp START and get exclusive rewards and vouchers for ANY home purchase in Malaysia (primary or subsale)!