Jan

Malaysia to Terminate $20 Billion China-Backed Rail Project

Malaysia will terminate a $20 billion rail project with contractor China Communications Construction Co., Economic Affairs Minister Mohamed Azmin Ali said.

The Cabinet decided the East Coast Rail Link project was “beyond the government’s financial capability,” he told reporters on Saturday. Malaysia Finance Minister Lim Guan Eng wouldn’t corroborate Azmin’s comments, saying an official announcement would be issued if necessary by next week on the instructions of Prime Minister Mahathir Mohamad…

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Malaysia to Terminate $20 Billion China-Backed Rail Project

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