PUTRAJAYA: Malaysia Rail Link Sdn Bhd and China Communications Construction Company Ltd have signed a supplementary agreement that will pave the way for the resumption of the East Coast Rail Link (ECRL) project.
The signing was achieved after months of negotiations between the companies involved as well as the governments of Malaysia and China, said the Prime Minister’s Office (PMO).
“We are pleased to announce that the construction cost of Phases 1 and 2 of the ECRL has now been reduced to RM44bil.
“This is a reduction of RM21.5bil from the original cost of RM65.5bil.
“This reduction will surely benefit Malaysia and lighten the burden of the country’s financial position,” said the PMO in a statement Friday (April 12).
The supplementary agreement covers the engineering, procurement, construction and commissioning aspects of the ECRL, it added.
The PMO also said that further details of the improved deal will be made known at a press conference next Monday (April 15).
Prime Minister Tun Dr Mahathir Mohamad is expected to give the press conference.
According to earlier reports, Phase 1 of the 688km rail line will be from Klang Valley to Kuantan while Phase 2 will cover Kuantan to Kuala Terengganu.
The project’s Phase 3 will see the rail line connecting Kuala Terengganu to Kota Baru and Tumpat. - Star, NST, MM
Read more:
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ECRL project revival to benefit many sectors - Business News
ECRL deal to include commitment from China to buy palm oil ...
Improved ECRL deal a 'solution' to debt trap concerns
BERNAMA.com - New ECRL deal a big win for Dr Mahathir, says US .
ECRL's immense possibilities - Letters
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