PETALING JAYA: The Sarawak government’s investment in the Kuching Urban Transportation System (KUTS) project and hydrogen technologies will generate huge spillover effects, says Kenanga Research.
The immediate beneficiaries are civil contractors, engineering consultants and suppliers of building materials, followed by landowners and property developers along the hydrogen-powered autonomous rapid transit (ART) alignment of the new KUTS project.
“We sensed strong commitment in ensuring successful implementation of the RM6bil KUTS project (phase one), entrusted to Sarawak Metro, a unit of the Sarawak Economic Development Corp.
“The project will transform public transport and hence liveability, minimise traffic congestion and open up new growth corridors in the capital city of Sarawak,” the research firm said in a thematic report on Sarawak following a recent visit there.
Phase one of the KUTS project involves 69.9km consisting of three major lines and 31 stations.
According to the research firm, some RM4bil worth of contracts have been awarded to various contractors so far.
“Already, civil contractors, engineering consultants and suppliers of building materials have benefitted such as HSS Engineers Bhd
, Ibraco Bhd and IJM Corp Bhd.
“We believe construction companies with a strong foothold in Sarawak could potentially also garner a slice of action such as Bina Puri Holdings Bhd, Kimlun Corp Bhd, KKB Engineering Bhd and Protasco Bhd,” it added.
Ibraco is the biggest winner of the ART project via its own property project called Atrium, it said.
