Malaysian Tycoon Lin Yun Ling’s Gamuda, Partners Win $994 Million Taipei MRT Project

by · Forbes
Driverless trains pass each other on Taipei's elevated Wenhu line, commonly known as the Brown Line. ... [+]LightRocket via Getty Images

Gamuda—the Malaysian construction company cofounded by tycoon Lin Yun Ling—and two Taiwanese companies won a 4.3 billion ringgit ($994 million) contract to design and build a mass rapid transit (MRT) system in Taipei.

The Xizhi Donghu MRT project involves the construction of a 5.8-kilometer rail line with six stations linking the Neihu and Xizhi districts in northern Taipei, Gamuda said in a statement to the Malaysian stock exchange. The project, which will be implemented by the company and its joint venture partners over a seven-year period, is part of a major infrastructure initiative underway in New Taipei City.

The company has a 75% stake in the project, while its Taiwanese partners—MITAC and DongPi—hold the rest. The joint venture partners may also be awarded an additional 10.8 billion ringgit contract involving works on the Xizhi Donghu MRT’s depot and rail extension projects for the Keelung and Minsheng MRT lines. The additional contracts are expected to be finalized before the completion of the Xizhi Donghu MRT contract, Gamuda said.

The Xizhi Donghu MRT contract will generate 3.2 billion ringgit in revenue for the company, and the additional works could add another 8.1 billion ringgit in revenue, Gamuda said.

In recent years, Gamuda won numerous high-profile infrastructure projects. In July, the company won an A$1.6 billion ($1.07 billion) contract to maintain and upgrade the train control systems on Perth's rail networks. In May, one of Gamuda's subsidiaries was awarded a $372 million contract to construct Sime Darby Property's inaugural data center project near Kuala Lumpur.

Founded in 1976 by Lin and partner Koon Yew Yin, Gamuda has grown from a construction firm into one of Malaysia's most prominent infrastructure and real estate companies. Beyond its home market, Gamuda also has projects across Australia, Singapore, Taiwan, the U.K., and Vietnam.

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