It wants to expand the network’s length to 360km to reduce road traffic jams.
Singapore is counting on its rail network to pave way for the growth of its infrastructure sector as plans for expansion by 2030 have been set out, BMI Research revealed.
The government plans to double the length of Singapore's rail network from the current 170km to 360km by 2030, making the railway infrastructure the fastest-growing component of the sector in the next decade.
There are currently 43km of new lines under construction, with another 100km in early planning stages.
Construction on the Singapore portion of the Singapore Kuala Lumpur High-Speed Railway will also boost the rail sector, with the project expected to be completed by 2026.
"Over our 10-year forecast period, growth in Singapore's rail segment will average 4.1% in real terms annually, outperforming the overall infrastructure industry," BMI Research said.
The size of Singapore's rail project pipeline dwarfs other transport infrastructure segments, with at least US$21.7b worth of construction contracts to be implemented over the next eight years.
Here's more from BMI Research:
The primary driver of growth over the first half of our forecast period, between 2018 and 2022, comes from the USD19bn Thomson-East Coast Line, a new metro (MRT) line that connects the city centre with northern and eastern suburbs.
The projects are currently under construction, with various phases projected to open between 2019 and 2024.
A second, lower-value project that contributes to our forecasts is the US$2.7b Circle Line Phase 6, on which construction began in 2017 and is projected to open by 2025.
The project consists of four stations across 4km that would close the eponymous metro line. Toward the mid and late 2020s, we note that the government has at least 100km of metro and commuter rail lines in preliminary planning stages that will continue to drive rail construction activity.
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