Monday July 14, 2008
Another RM1bil double-track job for Ingress?
By YEOW POOI LING
INGRESS Corp Bhd is tipped to have secured another RM1bil worth of contract to supply signalling and communication systems for the Ipoh-Padang Besar double-tracking railway project.An industry source said the contract would be awarded to a joint-venture company between Ingress and Italy-based Ansaldo Group. Ingress's 49% associate, Balfour Beatty Rail Sdn Bhd, via a joint venture with Ansaldo's Malaysian unit – Ansaldo STS Malaysia Sdn Bhd – recently secured an RM1bil contract for the electrification part of the double-tracking project.Ansaldo, which is listed on the Milan stock exchange, has a reputable record in the provision of traffic management, planning, train control and signalling systems and services.
“Electrification works start first before signalling and communication systems are set up,” the source said. Having both contracts would encourage sharing of resources and creating more efficiency and cost savings, thus giving better margins for the group, the source added.
Ingress group chief executive officer Datuk Rameli Musa, when contacted, declined to comment on the matter. However, he said, the company was interested in bidding for the electrification portion of the Seremban-Gemas double-tracking project, which was estimated to worth between RM400mil and RM500mil.
Ircon International Ltd, which is the main contractor, has yet to open the tender for that part.
Meanwhile, Ingress' power engineering railway (PER) division would remain profitable in the next two years, buoyed by demand for electric rail in the country as well as in the region.
“With oil prices rising and environmental issues cropping up, there will be demand for cleaner form of transportation,” Rameli said.The group would also leverage on its partner Balfour Beatty's expertise and global network to expand regionally.“We've been invited to view some rail electrification projects in Mumbai, India and Saudi Arabia,” he said.
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