Azmin Ecrl Project Cancelled Due To Rm500m Interest Cost



(MMO) – Economic Affairs Minister Datuk Seri Mohamed Azmin Ali today said that the cancellation of the East Coast Rail Link (ECRL) project was due to the high annual interest of a least half a billion ringgit that the country would have incurred.
Mohamed Azmin said the Cabinet decided to scrap the project during a meeting on Thursday after it was found that the government would have to fork out RM500 million in interest it the project continued.
“The Cabinet made the decision because the cost to develop ECRL is too high and we do not have the financial capability (to see it through) at this moment because the interest reached to nearly half a billion ringgit.
“This is something that we can’t afford to shoulder.
“Therefore we needed to terminate the project without jeopardising the good relationship between the People’s Republic of China and that we still welcome all forms of investment from China subjected to a case-by-case basis depending on the present country’s financial capabilities,” he said after launching an event with Silat Cekak Hanafi association earlier.
However he said the amount expected to compensated to China Communications Construction Group Ltd (CCCC) will be decided by the Finance Ministry.
“They have performed their due diligence to ensure that the cost (compensation) will not burden the financial situation at this moment,” he said.
Azmin said the federal government has yet decided whether to appoint a new contractor to take over the project to build the ECRL at half the estimated project cost.
“As I have said earlier, we welcome all forms of investment but it will be subjected to a case-by-case basis depending on the present country’s financial capabilities.
“We always review all the new applications of new investment into Malaysia and not necessarily on ECRL alone.
“We want to maintain our Foreign Direct Investments (FDI) in Malaysia coming from abroad and we want to ensure that our FDIs would be sustainable so that we can create wealth and job opportunities for the country,” he said.
Earlier this week, The Straits Times reported that the federal government had laid down a maximum cost of RM40 billion and asked for more local products and services to be included in the works.
However, CCCC could not meet these requirements, resulting in negotiations coming to an end.
CCCC was originally awarded the engineering, procurement, construction and commissioning contract for the ECRL, which was to be funded by Malaysia taking a soft loan from Export-Import Bank of China to cover 85 per cent of the cost. The remaining sum was to be raised from local bond issues.
The ECRL ― meant to be a land bridge linking Kuantan Port with Port Klang that would allow shipped cargo to bypass Singapore ― was touted as a game-changer when the project was launched.
Two pipeline projects with China costing RM9.3 billion were also cancelled after the government found that only 13 per cent of the works had been completed despite nearly 90 per cent of the project sum being paid out.
 


Artikel ini hanyalah simpanan cache dari url asal penulis yang berkebarangkalian sudah terlalu lama atau sudah dibuang :

https://www.malaysia-today.net/2019/01/26/azmin-ecrl-project-cancelled-due-to-rm500m-interest-cost/

Kempen Promosi dan Iklan
Kami memerlukan jasa baik anda untuk menyokong kempen pengiklanan dalam website kami. Serba sedikit anda telah membantu kami untuk mengekalkan servis percuma aggregating ini kepada semua.

Anda juga boleh memberikan sumbangan anda kepada kami dengan menghubungi kami di sini
Guan Eng Shocked Over Ecrl Cancellation Announcement Suggests Azmin Uninformed Of Pm S Decision

Guan Eng Shocked Over Ecrl Cancellation Announcement Suggests Azmin Uninformed Of Pm S Decision

papar berkaitan - pada 26/1/2019 - jumlah : 293 hits
Finance Minister Lim Guan Eng today expressed shock over Economic Affairs Minister Datuk Seri Mohamed Azmin Ali s announcement hours earlier of the government s alleged scrapping of the East Coast Rail Link project Lim was reported to have ...
Bn Leaders Poke Fun At Guan Eng Azmin Ecrl Contradictions

Bn Leaders Poke Fun At Guan Eng Azmin Ecrl Contradictions

papar berkaitan - pada 26/1/2019 - jumlah : 363 hits
Barisan Nasional leaders have been having a field day after Economic Affairs Minister Datuk Seri Azmin Ali and Finance Minister Lim Guan Eng showed they were not on the same wavelength over the cancellation of the East Coast Rail Link proje...
China Offered To Slash Ecrl Cost By Nearly Half Say Sources

China Offered To Slash Ecrl Cost By Nearly Half Say Sources

papar berkaitan - pada 31/1/2019 - jumlah : 307 hits
China offered to nearly halve the cost of a US 20 billion rail project to save the centrepiece of its infrastructure push in Southeast Asia two sources said today but contradictory remarks by ministers leave the outcome uncertain The confli...
Ecrl Guan Eng Terkejut Kenyataan Azmin

Ecrl Guan Eng Terkejut Kenyataan Azmin

papar berkaitan - pada 26/1/2019 - jumlah : 407 hits
KELANA JAYA Menteri Kewangan Lim Guan Eng terkejut dengan kenyataan Datuk Seri Mohamed Azmin Ali berhubung pembatalan projek Laluan Rel Pantai Timur diterajui China Communications Construction Group Ltd Beliau berkata Azmin mungkin tidak di...
Kontrak Ecrl Cccc Ramai Terkejut Pertelingkahan Azmin Guan Eng

Kontrak Ecrl Cccc Ramai Terkejut Pertelingkahan Azmin Guan Eng

papar berkaitan - pada 26/1/2019 - jumlah : 423 hits
Apa sudah jadi dengan Kabinet kita Kenapa dua menteri kanan membuat dua kenyataan berbeza berhubung isu yang sama KUALA LUMPUR 26 Jan Kenyataan berbeza antara dua menteri kanan berhubung kontrak dengan China Communication Construction Compa...
Dithering Over Ecrl Decision Due To Fear Of Beijing Pushback Says Report

Dithering Over Ecrl Decision Due To Fear Of Beijing Pushback Says Report

papar berkaitan - pada 29/1/2019 - jumlah : 402 hits
FEAR of retaliation from Beijing could be one of the reasons for the lack of a coherent response from the Malaysian government to the question of whether it would proceed with the RM81 billion East Coast Rail Link The Straits Times reports ...
Ecrl Cancelled Najib Shows Proof Chinese Official Says Talks Ongoing

Ecrl Cancelled Najib Shows Proof Chinese Official Says Talks Ongoing

papar berkaitan - pada 28/1/2019 - jumlah : 306 hits
The status of the East Coast Rail Link project continues to be mired in confusion with two separate incidents this afternoon At approximately 4pm today former prime minister Najib Abdul Razak released a letter purportedly written by Finance...
Ecrl Project No Conflicting Statements Please Muhyiddin Tells Ministers

Ecrl Project No Conflicting Statements Please Muhyiddin Tells Ministers

papar berkaitan - pada 26/1/2019 - jumlah : 290 hits
Home Minister Muhyiddin YassinKUALA LUMPUR Home Minister Muhyiddin Yassin today urged his fellow Cabinet ministers to not issue conflicting statements concerning the RM81 billion East Coast Rail Link project This follows an announcement mad...
Putrajaya To Terminate Ecrl Project Says Chinese Daily

Putrajaya To Terminate Ecrl Project Says Chinese Daily

papar berkaitan - pada 25/1/2019 - jumlah : 319 hits
Putrajaya has decided to terminate the 688km East Coast Railway Link project a Chinese daily reported On Thursday Sin Chew quoted a cabinet source as saying that this had been determined during Wednesday s Cabinet meeting However Cabinet di...
Hari Lautan Sedunia Untuk Lebih Dihargai Lautan Wajar Diberikan Tanda Harga

Kemalangan Maut Empat Beradik Di Jerantut Feri Ibu Saudara Dakwa Panggilan Terakhir Tersilap Simpang

Misteri Banglo Besar Di Sebelah Kerian Valley Resort Kubang Kerian Masih Wujudkah

Wanita Jumpa Wang Lebih Rm1 Juta Dalam Kotak Di Tempat Buang Sampah

Comment On Plate Gold Tak Sepanas Plate Ff By Tempahan Plate Fg Putrajaya Dibuka 2025 Adzril

5 Jenis Pelaburan Patuh Syariah Paling Menguntungkan Di Malaysia

Siakap Masak Lemak Cili Padi Kegemaran Sekeluarga

Mcmc Perjelas Isu Pengumpulan Data Telefon Bimbit Tegaskan Privasi Dilindungi


echo '';
Info Dan Sinopsis Drama Berepisod Dendam Seorang Madu Slot Tiara Astro Prima

10 Fakta Biodata Amira Othman Yang Digosip Dengan Fattah Amin Penyanyi Lagu Bila Nak Kahwin

5 Tips Macam Mana Nak Ajak Orang Kita Suka Dating Dengan Kita

Info Dan Sinopsis Drama Berepisod Keluarga Itu Slot Lestary TV3

Bolehkah Manusia Transgender Mencapai Klimaks Selepas Bertukar


Tetamu Complain Majlis Akikah Anak Nabila Razali Sempit Amp Khemah Kecil Netizen Sound Kau Kebulur Nak Datang Apehal

Hiburan Tak Nak Tape Nak Jenis Pants Sikap Asnaf Komen Pemberian Bantuan Maiwp Jadi Tumpuan

Menjelang Muktamar Pas Geng Ustaz Nak Langgar Geng Publika Dalam Pas

Traffic Reported Smooth On Major Highways

In Death Sabahan Haryanie Binti Jamil Teaches Peninsular Muslims True Meaning Of Religious Diversity

Sammy Simorangkir Daripada Menyiksa Diri Chord