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Malaysia closed billion dollar rail project of Chinese support

USNMix Report: Malaysia shocked China, rail project stopped,
this is the reason

Several projects funded by China during the previous government were signed.

Malaysia has closed a rail project of billions of dollars of Chinese support. Malaysia says it has been decided because its cost is very high. Officials of the Malaysian government informed about it on Saturday. Malaysia has closed many projects contracted during the previous government in recent months. The current government is taking steps to reduce the huge debt of $ 251 billion or one billion billion rupees.

Malaysian Prime Minister Mahathir Mohamad

Malaysia's Finance Minister Ajmani Ali said that the decision to close East Coast Rail Link (ECRL) of $ 19.6 billion (81 billion ringgit) was taken two days ago. It was to connect the country's eastern and western shores. He told reporters, "The cost of ECRL is quite high. Now our financial capacity is not worthy of this. "He said that if the project is not closed, then Malaysia would have to pay 50 crores of Ringgit annually.

Former Malaysian Prime Minister Najib Razak had a very close relationship with China During his government several projects funded by China were signed. However, critics say that there was a lack of transparency in these projects. When the new Prime Minister Mahathir Mohamad returned to power, he had ordered the review of the projects signed during the Najib Government.


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