It said on Wednesday the JV company, Metropolitan Commuter Network Sdn Bhd, had recently met Perbadanan Aset Keretapi's senior management to present the company's town planning scheme for the Kempas land.
It said the Kempas land was earmarked for the construction of the proposed commuter train depot and other assets as required by the ministry.
In June 2011, both companies had inked an MoU to set up the JV to undertake the rail transit network project in the Iskandar Development Region. The 100-km rail line costing RM1.23bil will link Iskandar to Woodlands in Singapore.
Masteel will hold a 60% stake in the JV and KUB the remaining 40%.