© Nikkei Markets
KUALA LUMPUR (Feb 25) — Malaysia is still in talks with China to reduce the construction cost of the suspended East Coast Rail Link, Prime Minister Mahathir Mohamad said Monday.
“If the price is right, then we’ll continue. Right now we have not agreed on the price,” he said at a news conference after launching a manufacturing plant in Selangor.
“Our hope is to spend less money,” said Mahathir.
Under current contract terms including interests on a 30-year loan from China, Malaysia would be spending up to 140 billion ringgit ($34.4 billion) on the project.
“We’ll be saddled with interests. We cannot afford that. Therefore, we’re trying to reduce cost or we may have to postpone.”
– By Gan Pei Ling
– Edited By Abhrajit Gangopadhyay