Malaysian Finance Minister Azmin Ali. GLENDA KORPORAAL 12:00AM JANUARY 28, 2019 2 The Malaysian government has cancelled a $US20 billion ($27.8bn) rail project, part of China’s Belt and Road infrastructure initiative, after failing to secure a price cut from Chinese contractors. Malaysia’s Economic Affairs Minister Azmin Ali said on the weekend the Mahathir government had decided to scrap the 688km East Coast Rail Link in a cabinet meeting last week. The Mahathir government had been in negotiations to reduce the price of the project with the China Communications Construction Company. Work on the rail link, which was launched in September 2017 under the government of Najib Razak, was suspended last year after Mahathir Mohamad took office, pending discussions over its pricing as well as allegations of graft that have plagued the project. Mr Azmin said the government was concerned at the high interest bill it would incur to pay for the project which is 85 per cent financed by the
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