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BUSINESS

NRCOE to increase localisation of 45 pct, enhance suppliers to support local rail ops

06/04/2021 08:05 PM

KUALA LUMPUR, April 6 -- The National Railway Centre of Excellence (NRCOE) is targeting to increase the localisation minimum of 45 per cent, develop and enhance 70 qualified suppliers by 2030, in order to support the local rail operation and maintenance, repair and operations (MRO) industry in Malaysia.

Its head consultant Hasry Harun said NRCOE, an entity operating under the auspices of the Transport Ministry, also plans to nurture Malaysia's suppliers to penetrate the regional markets, especially in ASEAN, where there is a huge value in railway projects.

"Malaysia's potential railway market is huge, with the estimated project value of US$48 billion until 2030, which include the East Coast Railway Line, Light Rail Transit Line 3, Mass Rapid Transit Line 3, Electric Train Service 3, Rapid Transit System, Penang LRT and Sarawak Metro. 

"While in ASEAN, the railway project until 2035 is estimated at US$93 billion and the biggest project in Asia is the One Belt One Road Initiative with project value at US$480 billion until 2050… so, there is opportunity to tap into these projects," he said during the panelist session title 'Rail Towards Year 2030' at the virtual International Symposium on Rail and Livelihoods (ISORail2021) today, officiated by Deputy Housing and Local Government Minister Datuk Ismail Abd Muttalib.

Hasry said for this year onwards, NRCOE will continue developing local industry players to support the rail projects in Malaysia.

"We are also developing local companies who will manage the MRO activities on rolling stock as well as enhancing our local small and medium enterprises to the next level in order to meet the international rail industry standard and requirements. 

"So by 2030, we should be able to manage our assets locally and digitalise the rail system in order to produce efficient services to the rakyat," he added.

-- BERNAMA

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