The 620 km East Coast Rail Link will be built and financed by China, Treasury secretary-general Tan Sri Dr Mohd Irwan Serigar Abdullah has confirmed. The engineering, procurement, construction and commissioning (EPC) contract and a financing framework are among the agreements prime minister Datuk Seri Najib Tun Razak will be signing during his visit to Beijing, China, according to the New Straits Times.
The EPC contract will be awarded to China Communication Construction Company Ltd (CCCC), while the financing agreement will be with the Export Import Bank of China (EXIM). When completed, it’s said that the ECRL will increase the competitiveness of products from the East Coast due to reduced transport costs, and raise the incomes of industries and businesses located along the rail route, Mohd Irwan said.
“If you borrow in the international market you will not get the low interest rate that we will get. We haven’t finalised (the details) but we will get very competitive (rate) and the repayment period we expect to be 20 years,” Mohd Irwan added, saying that the decision to seek financing from China was due to the favourable terms offered.
The government hopes to have the ECRL project finalised by the end of this year in order for construction to start early 2017. In the recent Budget 2017, the PM announced the allocation of RM55 billion for the development of the ECRL, which will start from Port Klang, connecting townships such as ITT Gombak, Bentong, Mentakab, Kuantan, Kemaman, Kerteh, Kuala Terengganu, Kota Bharu and will end in Tumpat.
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How can Malaysia finance by China bXXX, malulah!
Cause China already helping official 1 to pay off 1 Mega Debt!. By the way,HSR will go to China man for sure.
Malaysia slowly becoming Chinasia. Financed and owned by China.
Nothing weird bout that.. Thailand HSR is fund part by China n Japan. Even Indonesia ask Japan to fund their train project. Indonesia HSR is fund by China n Jakarta MRT fund by Japan.
Harga petrol diesel dah mahal.
Dedak masok poket, ada Hati lg mahu mintak Cheena. Rakyat B40 mundur kemiskinan. kemaluan2
If u born poor, its not ur fault.
If u die poor, its all ur fault.
Let me explain on the issue of Thai High Speed train networks:
1. Bangsue central – Khorat – now it is likely it has to be financed by Government Saving Bonds as Chinese creditors REFUSE to cut the interest rate on loan to 2% per year as requested by Thai Ministry of Finance, even the loan for EMUs, signal installation and electrification. Chinese creditors still insist 2.3% interest for loan in US Dollar denomination or 2.8% for Renminbi denomination – Worse, Chinese engineers still not done the comparing tables so Thai contractors can calculate the cost for construction.
2. Bangsue Central – Phitsanuloke – Chiang Mai (AK Thai – Japan railway), the section from Bangsue Central to Phitsanuloke has gotten EIA clearance.
3. Bangsue Central – Hua Hin – still have a bone of contention on the section from Bangsue Central to Taling Chan due to the construction of expressway on railway land along Rama 6 section of Southern line
4. Lad Krabang – Rayong – still need to find the private sector to invest this project as JV.
hahaha, all our money wasted now need money from China to build these infrastructure, good job gomen. more china dolls come come
China Doll dun wan come liao … ringgit no value
Gomen no money, just like Tun ckp lo.
Good news indeed.. At least the government is working towards improving the country’s rail connectivity, and teaming up with China is a good move, they are experienced in building and completing large rail projects and Chinese banks have the expertise to finance such jobs… Better than some quarters lamenting that the government has inadequate resources, when the lamentors are the cause of the situation and aggravating the current media space by coming up with half baked untruths , provided by vested parties… My 2cents..
These supremacists now fully rely only pendatang pandas to bailout all their mega projects after major failures of everything that they had terribly done.All national assets sold to Great Wall dynasty communist master.Why? Only white panda can handle and make money.Not even Uncle Sam can help.They in big troubled deficits,debted too.Proved these majority race supremacist can’t do business and unable to bring this country as high equally to smaller red tiny dot neighbour or as similar to Far East war torn countries.It showed on their poor performances and all single race prime ministers since independence had failed.This race is doom with corruption,scandals and ignorance.Allah can’t help any certain race if they don’t help themselves to find the truth.They always mention this but purposely done wrong for own gain.Funny
Its nothig to do with race. Its their time to bloom. Look at all those superpower in history. Where are there now? China also once below the english man feet, but now? Its a circle. No country will maintain their supremacy. History showed.
Habislah Income Tax/GST kena increase for the next 20 yrs to pay off that all.
In the map above, there’s an ‘Automotive Regional Distribution Centre’ under the legend but not in the map (or I fail to find it). Can someone enlighten me what is Automotive Regional Distribution Centre?
Pekan? You know who electoral area. DRB Hicom has passenger, commercial & defence assembly plants there and an automotive university.
its a huge damage to Singapore in future.
for sure…cos malaysia will soon b a province of china…
LOL~
chinese money has never been involved in much of SG’s infrastructure projects, especially their transport projects. As a matter of fact, it’s the other way round. look at the big infrastructure projects like suzhou industrial park and tianjin eco city that SG has invested heavily in.
If ECRL takes off and connects to China Silk Rail link, SG is finished as an entreport. Goods can use rail bypass and go straight to Port Klang faster than a ship can go around Selat Melaka
Infrastructure, land owned by China… Soon the whole nation will be sold to China too… No more Banglasia… It’s Chinasia now…
Same story with Philippines anyway, they cant muscle their way in without serious consequence so they starve all of us with insanely cheap prices and when we could no longer sustain ourselves, they buy us up. Happened before as well, not here but Russia sold Alaska to USA, in a matter of fact, most of USA was bought from Russian, French and more… I guess history is repeating itself, but now the super-power in mind is not USA but China, and the states getting eaten up are Asean. The reason all lies in the South China Sea, not the oil but the militaristic power it will grant China against USA.
Same reason why Russia is heading westwards as well. These two giants is flexing their muscles, because they can and the ukraine, south china sea island was enough proof to these two the other super powers will stay away from them. All we can do is bow down and hope our lives goes on the same.
wang besar….wang besar….you help me, i’ll help you. thanks BN.
Built and financed by China ?… Soon ..”This land belong to .. please obtain approval for entry ” ..
Waste of investment money. The Kelantan & Terengganu folks will still majority pay for cheaper express bus. Full only once a year during Raya. And look at the cost, RM60 BILLION for 620 km. You do the math of cost per km. Gold plated rails ah?
Actual cost probably less than 30 Billion.
rest where it goes, you make up your own conclusion.
And this isn’t even high speed, or at least its not noted here.
Moderate speed rail, normally cost about 2/5 the budget for the same distance.
Rail alone won’t make the project completed. Go back to school kid.
We have too many simpleton urbanites here.
mark up the price and give low interest rate… beza memang berbeza.. haha
The vast majority of income tax in this nation is contributed by Chinamen (excluding the GLCs) for years and years. So what else is new?
So, the Sarawak Report is true after all?
Jibby n CO, amidst all the scandals has somehow convinced china to finance and build this mega project, that would definitely benefit the rakyat in the long long run…
on the other hand , Tokong went to HK few times, badmouths malaysia , to scare away foreign investors , then 9 factories closes shop in penang…
see the difference….?
how gullible can you be? every right thinking person has already figured out that this MEGA project is awarded at massively inflated prices so that money can be shared all around. Benefit the rakyat my sweet ar**
duhh , which mega project isn’t ? nobody works for free in this country….
obviously there will be cash sneaking here and there…
anyhow, if this mega project is not deemed profitable on the long run , would china fund it, let alone build it…
Just like tunnel… oh wai
RM 55 Billion for 620km is approximately RM88 Mil for a kilometer!! This is too much. Are we making a Gold-Made Railway?
unless you hire a team of experts to calculate the exact amount of money needed for :
1) land acquisition
2) land clearing and leveling
3) logistics
4) infrastructure placements
5) soil conditioning
6) procuring building material
7) labour and building
8) overhead costs etc etc
9) buying the actual train2
10) staff training
11) tests runs
if you can provide all these instead of of a 2 sentenced argument….
your points are invalid….
any actual engineers care to shed light on actual costs…?
you don’t need any expert to tell you that no railroad in the world would cost RM88 Mio per KM to build. Bear in mind we are not talking New York or London but Bentong and Kemaman! Use your God-given common sense..or have our great leaders been so successful in dumbing down the rakyat??
I beg to differ. Gotthard Base Tunnel rail line cost 80mil EUROs per km. Yes, I dun have to be a rail expert, but a little knowledge helps to disprove ur point.
you are comparing this to a highspeed rail tunnel built 600m below the EXISTING tunnel in the Swiss alps? Seriously?
Yes. Becoz u dunno jackshit about rail line and pick facts here and there. FYI, boring parallel an existing tunnel is easier than thru a unknown location cuz u alredi know the rock/sediment composition from earlier tunnel.
you do realize that the Ipoh – Padang Besar Double Tracking and Electrification project (started in 2002) costs around RM50 million per km right? and that’s not a totally new rail project (follows the existing rail line for most of the distance)..and in that project the local contractor (MMC-Gamuda) actually offered to build it for half the cost offered from China’s and India’s rail company
here we’re talking about a totally new double tracked electrified rail line through areas with poor infrastructure and challenging geography…not to mention the need to account for cost of land takeover etc…
Even when you have carried out a full detail engineering and cost estimate based in current prevailing price, you are still within 5% margin. Actual cost could only be determined when the project account has been finalized.
We have yet to hear it from experts in varsities and industry. How feasible, how fast, how many stations and etc. Return for investment on infrastructure project may take more than 20 years. Not like expressway, toll collection based on vehicle with no limit.. trains have limit.
YES! Its too expensive! Will u help to bore thru Banjaran Titiwangsa for free?
Only a fraction of the 620km would require tunnelling! Don’t just lap up everything the gomen feeds you wholesale. Classic consequence of our spoon feeding education system.
If u bore 10km or u bore 100km, u still need to buy a TBM or hire the same number of experts. And thats just one easy example, what about cutting thru dense forrest, draining swamps, leveling uneveness?
Dun just lap up everything Party Hard feeds u wholesale. Classic consequence of those who think their smart cuz they only listen to one side and jump to conclusions.
Well unlike you, a self-admitted cybertrooper, I do not have any inclinations to political parties. Going purely by common sense, 55 B is way too much to pay for a 620km railway no matter the works involved. We are not building a rocketship to the moon for crying out loud. Do you think that the gomen you defend so religiously would dare publish the breakdown of the total costs? I think not.
From all your posts I can also conclude that:
1. You do not pay taxes because if you do you would give a sh*t where the taxpayers money go to
2. You are a direct benefactor of the deeply engrained culture of rent seeking and cronyism inflicting our nation
Singapore MRT cost S$20.7 billion for 42 km: $493 million/km fully underground..RM88mil/km for a span of 620km doesnt sound that bad..if you’re an engineer that is..i guess u must be an accountant jack..stop reading M’kini too much..its bad for your brain..and i hate Najib
” Dun worry … our debts still under control .. bertenang ! ” Mr. N.
What’s the catch? Surely there must be..