Business
19:55, 09-Aug-2017
Chinese finance boosts Malaysia's rail construction work
["other","Malaysia"]
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Malaysia officially launched its largest-ever rail project on Wednesday, made possible with funding from China.
Chinese State Councilor Wang Yong joined Malaysian Prime Minister Najib Razak to open the 13 billion US dollar infrastructure project which will see a railway line spanning the Malayan peninsula from the country's major West Coast ports, through the capital Kaula Lumpur to the east coast and north to the border with Thailand.
China is financing the project with soft loans, and the China Communications Construction Company is the lead contractor.
Malaysia’s prime minister called the project a ‘game changer’ for the East Coast states.
China is already deeply involved in Malaysia’s rail sector, undertaking double tracking and electrification work, and assembling trains on the Chinese mainland.
The East Coast Rail Link is expected to be completed within seven years.