Economics
Malaysia Restarts Rail Project With China After Cost Cut
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Malaysia restarted the China-linked East Coast Rail Link project on Thursday after downsizing building costs by a third to lighten the government’s debt burden.
The rail project, led by China Communications Construction Co. and Malaysia Rail Link Sdn., was canceled a year ago by Prime Minister Mahathir Mohamad’s new government after he balked at the 65.5 billion ringgit ($16 billion) cost. He revived talks later and in April struck a deal with China to cut it down to 44 billion ringgit.