Which companies will form the joint venture for the KUTS project?

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Ibraco Bhd, China Railway Engineering Corporation (M) Sdn Bhd, and Nanyang Tunnel Engineering Sdn Bhd will form a joint venture for the KUTS project.

Ibraco Bhd is set to establish a joint-venture company with China Railway Engineering Corporation (M) Sdn Bhd (CRECM) and Nanyang Tunnel Engineering Sdn Bhd (NYTE). This partnership is a direct result of securing a project valued at RM568.61 million, which is part of the Kuching Urban Transportation System (KUTS). The joint venture will be formally incorporated following the official award of this project by Sarawak Metro Sdn Bhd (SMSB).
Partnership Structure for the KUTS Project

The collaboration involves Ibraco Construction Sdn Bhd (ICSB), a wholly-owned subsidiary of Ibraco Bhd, partnering with CRECM and NYTE. This consortium, referred to as ICSB-CRECM-NYTE, submitted a bid for the tender. The KUTS project, implemented by SMSB, aims to introduce Autonomous Rapid Transit (ART) to enhance mobility services within the Greater Kuching area.
Details of the Contract Award

The tender for the construction and completion of infrastructure works for the Blue Line-Package 1, stretching from Rembus to Stutong, was advertised by SMSB on July 25, 2023. The ICSB-CRECM-NYTE consortium formally accepted the letter of acceptance from SMSB for this project on November 10. The incorporation of the new joint venture company is expected to be announced in due course.
Background of the Joint Venture Partners

CRECM is identified as a wholly-owned subsidiary of China Railway Group Ltd, a state-owned enterprise based in China. Furthermore, NYTE operates as a wholly-owned subsidiary of CRECM. This structure indicates a significant involvement of Chinese state-linked entities in the project alongside Ibraco Bhd.

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Which companies will form the joint venture for the KUTS project?

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