Malaysia, China agree to resume rail project after slashing cost

Malaysia revives China-backed rail link after cost cut | Bangkok Post: news

China has struck a deal with Malaysia to resume the East Coast Rail Link project at a smaller cost and scope.

Prime Minister Tun Dr Mahathir Mohamad is scheduled to visit China later this month for a conference on the Belt-Road Initiative, of which the ECRL represents its flagship in Malaysia.

The prime minister's office said in a statement it welcomed the signing of a supplementary agreement between Malaysia Rail Link Sendirian Berhad and state-owned China Communications Construction Company Ltd.to revive the project. But this new government is concerned about cost.

In Beijing, Malaysian chief negotiator Daim Zainuddin told Malaysian media that the rail link will be 40km shorter at 648km but will remain a double-track line.

"We believe this creates a renewed confidence among Chinese investors to continue investing in Malaysia", he said. The lower cost also means the government can save in terms of interest on a lower loan, he said.

Powerhouse system; historic blizzard north, severe weather south
AccuWeather Senior Meteorologist Dan Pydynowski stated in the article that flight disruptions and road closures are likely. There also are high wind warnings in parts of western Colorado and a blizzard warning for eastern Colorado toward Kansas.

A Chinese Foreign Ministry spokesman, Lu Kang, hailed the agreement.

Dr Mahathir has shown more willingness to revive some infrastructure projects after embarking on spending cuts and a corruption crackdown a year ago.

Mahathir initially suggested the rail project will be called off because the high cost could burden the country with debts for decades. The government was nearly done with its budget review and was ready to look toward state investments to boost economic growth, Finance Minister Lim Guan Eng said in February.

Launched in 2017, the project to link Malaysia's east coast on the South China Sea with the busy waterway of the Malacca Strait on the west, has seen costs balloon amid a lack of transparency, threatening to saddle the country with uncomfortably large debt.

The ECRL project was initiated by the previous Barisan Nasional government and was suspended past year by the newly-elected Pakatan Harapan government due to its high cost. He went on trial over the scandal last week.

Related news:

Hot News

isis-killer-beheading-video-story-top The Masters: Zach Johnson's practice swing doesn't miss the ball
Apr 13, 2019 - 08:18
The ball appeared to ricochet off the tee marker on the right, before coming to rest a couple of metres away. "That's a first. Because Johnson didn't have the intention of hitting the ball, he was allowed to re-tee and hit again.

isis-killer-beheading-video-story-top French Sec. of State Would Consider Asylum for Julian Assange
Apr 13, 2019 - 08:04
British police moved in after Ecuador pulled its asylum for Assange and cancelled his citizenship, granted in 2012. But whatever the truth, the story of Assange's turbulent 2,488 days in the Ecuadorian embassy isn't over yet.

isis-killer-beheading-video-story-top Luke Walton, Lakers Mutually Part Ways
Apr 13, 2019 - 07:31
Johnson, though, said that his relationship with Walton was fine after the incident, which he considered overblown. Lue and Walton are friends, and for years over the summer, they would play craps together in Las Vegas.

isis-killer-beheading-video-story-top Fisher-Price Rock n' Play recall today after reports of infant deaths
Apr 13, 2019 - 07:23
It does not meet the AAP's recommendations for a safe sleep environment for any baby. The CPSC has estimated the recall affects about 4.7m products.

isis-killer-beheading-video-story-top Liverpool boss Jurgen Klopp calls for Chelsea fans to be banned forever
Apr 13, 2019 - 07:08
To beat that team, they were getting very good results, to beat them 2-0 was a very important win for the club, for the fans. But Paul Merson believes that it will be Liverpool who will come out on top during the Anfield encounter.

isis-killer-beheading-video-story-top Sudan's military ousts President Omar al-Bashir following protests
Apr 12, 2019 - 02:52
It called on protesters to maintain a sit-in outside the defence ministry that started on Saturday, a source with the group said . State TV announced that the military would make an "important statement" imminently and the nation should "wait for it".

isis-killer-beheading-video-story-top Mullin steps down at St. John's; Hurley next?
Apr 12, 2019 - 02:17
John's position, but the university is located in New York City, just a few miles from where Hurley grew up in New Jersey. John's basketball progressed well during his tenure, culminating with a trip to the NCAA Tournament this past season".

isis-killer-beheading-video-story-top South L.A. To Name Crenshaw & Slauson Intersection "Nipsey Hussle Square"
Apr 12, 2019 - 02:02
Moore also said the dispute does not appear gang-related. " Join Us for the Celebration of the Life & Legacy of Nipsey Hussle ". Confirming the decision, Los Angeles City Council's Marqueece Harris-Dawson hailed Nipsey as a "West Coast hero".

isis-killer-beheading-video-story-top Marvel Avengers Endgame new ‘Promo Poster’ reveals some details (SPOILER)
Apr 12, 2019 - 01:37
I think audiences are so smart and now so. they require to not be fed the same drivel as even twenty minutes ago. Now, Hypebeast reported that Endgame has broken presale records, obliterating some heavy hitters in the process.

isis-killer-beheading-video-story-top Dallas star Dirk Nowitzki confirms National Basketball Association retirement
Apr 12, 2019 - 01:35
With 46 seconds left, Nowitzki took a pass at the top of the key and nailed an 18-footer jumper to cap his game and career. Nowitzki finished with 20 points and 10 rebounds in the finale of his storied 21-season career - all with the Mavericks .

isis-killer-beheading-video-story-top Saudi Aramco’s International Bond Sale Tops $100 Billion In Investor Orders
Apr 12, 2019 - 01:24
Aramco made $111 billion in net profit previous year , making it the most profitable company in the world. And later in the bond market itself, where the Saudi government successfully raised debt this year.

Nutrients from food, not supplements, linked to lower risks of death, cancer
Apr 11, 2019 - 02:30
In 2011, a large study found that use of vitamin E supplements was linked to an increased risk of prostate cancer in men. They showed that adequate consumption of vitamins A and K, as well as magnesium and zinc, reduced the risk of death.

isis-killer-beheading-video-story-top Mueller report will be released within a week: U.S. attorney general
Apr 11, 2019 - 02:08
Barr also dismissed accusations that he was hasty to release the March 24 letter outlining the conclusions of the report. The attorney general said he has not received the criminal investigation referrals from Rep.

isis-killer-beheading-video-story-top Trump Wonders Why George Washington Didn’t Name Mt. Vernon After Himself
Apr 11, 2019 - 01:45
Trump did find one thing he liked at Mount Vernon - the bed where Washington died of a throat infection in 1799. But three sources briefed on the exchange told Politico that Trump didn't seem too impressed.

Emilia Clarke Shares Photos Of Recovery From Life-Threatening Aneurysms
Apr 10, 2019 - 01:14
She was diagnosed with a subarachnoid hemorrhage (SAH), a life-threatening type of stroke , which was caused by a brain aneurysm . Cape Town - Emilia Clarke has shared personal photos taken during her hospitalisation for two brain aneurysms.