Malaysian PM Mahathir Mohammad says China-financed projects canceled | 2018-08-21 | daily-sun.com

Malaysian PM Mahathir Mohammad says China-financed projects canceled

AP     21st August, 2018 02:05:08 printer

Malaysian PM Mahathir Mohammad says China-financed projects canceled

 

Malaysia's state news agency has cited Prime Minister Mahathir Mohammad as saying that multibillion-dollar China-financed projects have been canceled.

 

Bernama says Mahathir told Malaysian reporters during the final day of a visit to Beijing on Tuesday that both Chinese President Xi Jinping and Premier Li Keqiang understood the reasons behind the cancellations and "accepted them."

 

The projects comprise a $20 billion East Coast Rail Link and two energy pipelines worth $2.3 billion.

 

The projects had been suspended pending renegotiation.

 

Malaysia's new government has called for drastic cuts to the projects' ballooning cost, which it estimates at more than $22 billion. Some of that money has already been paid and could be difficult to recoup.

 

 


Top