B&R set to drive projects in Malaysia

Source:Xinhua-Global Times Published: 2017/12/21 23:11:36

The China-proposed Belt and Road (B&R) initiative will continue to play a big role in catalyzing mega projects in 2018 for Malaysia, said a Malaysian research house on Thursday.

CIMB Research said in a report that with the funding support of the initiative as an enabler, Malaysia aims to roll out four major rail projects simultaneously in 2018, which are estimated to cost a combined 164 billion ringgit ($40.27 billion) with a total new rail buildup of 1,209 kilometers. These projects include the 50 to 60 billion ringgit Kuala Lumpur to Singapore high-speed rail (HSR) line, the 55 billion ringgit East Coast Rail Line (ECRL), the 40 billion ringgit Mass Rapid Transit 3 (Circle Line), and the 8.9 billion ringgit Gemas to Johor Baru line.

"These projects have made significant progress in terms of government approvals, launch of the schemes, early stages of land acquisition, project design and tender process," the research house said.

CIMB also said it expects the contract awards for these projects to go ahead in 2018.

Posted in: ECONOMY

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