10 January 2014

A CONSORTIUM of five local construction companies, including two listed ones, has been formed to bid for $60 billion worth of MRT projects.
United Singapore Builders Pte Ltd (USB) will tender for projects laid out by the Ministry of Transport (MOT) as outlined in Land Transport Master Plan 2013, said OKP Holdings Ltd and Swee Hong Ltd in a joint statement yesterday.
The other members of the group are Ho Lee Construction Pte Ltd, Chye Joo Construction Pte Ltd and Hwa Seng Builder Pte Ltd.
USB will have a paid-up capital of $1 million, with each shareholder contributing an equal share. Projects that it is eyeing include stations, tunnels and depots.
The two listed companies said: "With an allocated budget of $4.6 billion to be spent on rail projects in FY2013, MOT expects to double the length of Singapore's rail network to 278 km from 138 km in 2008 at a cost of $60 billion over the next decade."