BEIJING: Malaysia has sealed the deal to build the East Coast Rail Link (ECRL) with China Communication Construction Company Ltd (CCCC), with financing via soft loans from Export-Import (Exim) Bank of China. The Engineering, Procurement, Construction and Commissioning agreement was signed between Malaysia Rail Link Sdn Bhd, CCCC and China Communications Construction Company (M) Sdn Bhd today. The Chinese have agreed to fund it through their Exim Bank, and this is very good source of soft loans to Malaysia,” Najib said at a press conference with Malaysian media later. The project, estimated to cost RM55 billion, is one of the high-impact projects under the 11th Malaysia Plan. The government hopes to finalise the ECRL by end of this year so that construction on the project can start in early 2017.

Source: New Strait Times November 01, 2016 13:48 UTC