Guests visit the China High Speed Railway Exhibition in Kuala Lumpur, Malaysia, Dec. 11, 2015 (Source :en.people.cn)Kuala Lumpur (VNA) -China Railway Group Ltd (CREC) will invest 2 billion USD in building its regional centre in Bandar Malaysia, Kuala Lumpur, Malaysian news agency Bernama reported on March 21.
Bernama quoted CREC President Zhang Zongyan as saying at the announcement of the investment on March 21 that the group will consolidate all its current regional businesses and operations once its new headquarters in Bandar Malaysia is completed.
CREC will build an integrated office complex in Bandar Malaysia which is destined to become the regional hub for multinational companies (MNCs) from around the world, he said.
The announcement was made three months after CREC and its Malaysian partner Iskandar Waterfront Holdings (IWH) won a bid to acquire 60 percent of the equity in the Bandar Malaysia project.
IWH Director, Izaddeen Daud, said the Bandar Malaysia development is now under the public-private partnership (PPP) model with the Ministry of Finance (MOF) holding 40 percent of the development company and the lWH-CREC consortium holding 60 percent.
According to Bernama, Bandar Malaysia, when completed, will serve as Malaysia's gateway to the world through the rail to Singapore and the proposed Pan-ASEAN Rail to Bangkok and beyond.
The development blueprint also includes an integrated underground city model after Canada's Montreal underground city, with dedicated space for financial and commercial centres, tourism and shopping facilities, high-end corporate offices, theme park and themed theatres.-VNA
