BPMB, UOB MALAYSIA AND CCB COLLABORATE TO FINANCE FIRST HYDROGEN-POWERED AUTONOMOUS RAPID TRANSIT
Today, BPMB together with UOB Malaysia and China Construction Bank (Malaysia) Berhad (CCB Malaysia) announced a syndication programme to extend financing facilities to EPR Mobilus GR JV Sdn Bhd (EMGJV).
The syndication programme comprises a financing package amounting RM264.5 million, which will enable EMGJV to undertake the Kuching Urban Transportation System (KUTS) Phase 1 project. EMGJV is the appointed contractor by Sarawak Metro to develop South East Asia’s first hydrogen-powered, autonomous rapid transit (ART) in Kuching, Sarawak. The partnership between the banks in this programme underscores the banks’ shared commitment to driving positive economic growth and fostering sustainable development for the city.
The KUTS project aligns with BPMB’s purpose to deliver impact capital for national development. We evaluate all our activities using our MIND framework to make sure all of our projects deliver socioeconomic and environmental impact. KUTS in particular scores extremely high in our MIND evaluation.
The KUTS will have advanced ART trains that are powered by hydrogen fuel cells, which produces no carbon emission. This results in public transportation efficiency and reduces harm to the environment. The project is scheduled for pilot testing by the third quarter of 2023, and planned to be in full operation by the fourth quarter of 2025. Once operational, each ART train will carry up to 300 passengers across the 69.9km Phase 1 alignment, benefitting the Kuching metropolitan and Greater Kuching areas.