China to fund 85% of a Malaysia's revived rail project of 44 billion ringgit. YahooFinance
DUNGUN, Malaysia — Malaysia's Transport Minister Loke Siew Fook says China's Export-Import Bank is expected to finance 85% of a 44 billion ringgit rail link project that will bolster economic development in rural eastern states.
The East Coast Rail Link was suspended a year ago shortly after Prime Minister Mahathir Mohamad won a historic election, but the government said in April it will revive it after the Chinese contractor agreed to slash cost by a third. The project connects Malaysia's west coast to poorer eastern states and is a key part of China's Belt and Road infrastructure initiative.
At a ceremony in northeast Terengganu state Thursday to relaunch the project, Loke said Malaysia is expected to sign the financing agreement with China's EXIM Bank soon but didn't give further details.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
England bowled out for 85 by IrelandEngland crashed back to earth after their World Cup triumph as they were skittled for 85 on a humiliating opening morning of their four-day test ...
Read more »
Ireland build lead after England dismissed for 85England crashed back to earth after their World Cup triumph as they were skittled for 85 on a humiliating opening morning of their four-day test ...
Read more »
Smoking giant China planning e-cigarette regulationBEIJING: China is planning to regulate e-cigarettes in an attempt to stave off a new gateway addiction in what is already the world's largest ...
Read more »
Philippines mulls tourists for Thitu, bolstering South China Sea claimsThe Philippines is considering inviting tourists to its biggest and most strategically important outpost in the South China Sea, part of efforts ...
Read more »
China tells US to remove 'black hands' from Hong KongBEIJING: China accused US officials on Tuesday (Jun 23) of being behind violent protests in Hong Kong and advised them to remove their 'black ...
Read more »