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State-owned China General Nuclear Power Corp bought 1MDB’s power assets for US$2.3 billion, while the Malaysian fund sold a 60 per cent stake in a property project in Kuala Lumpur to China Railway Engineering Corp and a local partner. The real estate project will host terminals for a planned high speed rail connecting Kuala Lumpur to Singapore, which Chinese companies have expressed interest in building.
Posted by EJ Ng 黄应仁 Huang Yin Ren at 3:01 AM
55 billion ringgit East Coast Railway Line (ECRL) project
The East Coast Rail Link (ECRL) is a long-planned project that was put under the 11th Malaysian plan which will link Kuala Lumpur and three east coast states in Peninsular Malaysia. It is 620km long involve a “significant amount of underground tunnelling”. The East Coast Economic Region Development Council has established that a rail route connecting the major ports, business centres and towns in Pahang, Terengganu and Kelantan was vital to achieve growth in the region.
It is expected to take 15 to 20 years to develop as it will involve a lot of underground work and building tunnels across Banjaran Titiwangsa.
Posted by EJ Ng 黄应仁 Huang Yin Ren at 2:58 AM