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.
Chinese companies will finance and build a 620-kilometre rail line spanning the east coast of peninsular Malaysia with construction set to begin as early as next year, the New Straits Times reported.
The construction contract will be awarded to China Communications Construction Co, while a financing agreement will be signed with Export-Import Bank of China
Malaysia expects a competitive interest rate with a repayment period of 20 years.
The east coast rail line will connect eastern cities and towns with the nation’s capital. The government hopes to complete the east coast rail deal before the year’s end and for construction to start in early 2017
http://www.straitstimes.com/asia/se-asia/malaysia-awards-new-east-coast-rail-link-project-to-china-company
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