Malaysia will revive a $34 billion Chinese-backed transport and property development that was abandoned in 2017, the Prime Minister said on Friday, adding the project would contribute to Beijing\u2019s global infrastructure drive.<\/p>\n\n\n\n
The\n announcement came after the countries agreed this month to resume work \non a previously suspended railway project in Malaysia, and is the latest\n sign of improving ties after a rocky period.<\/p>\n\n\n\n
The 140-billion \nringgit Bandar Malaysia development in Kuala Lumpur is expected to \nattract financial institutions and companies, and will be an interchange\n for a number of rail lines, said a statement from Prime Minister \nMahathir Mohamad\u2019s office.<\/p>\n\n\n\n
There were some changes to the \noriginal plan, including 10,000 units of affordable housing, and a \n\u201cPeople\u2019s Park\u201d, it said.The project was originally launched in 2011 \nunder the government of ex-leader Najib Razak, but was abandoned in 2017\n during his administration due to a dispute about payments.<\/p>\n\n\n\n
The \nBandar Malaysia project was initially backed by the scandal-hit state \nfund, but a major stake was later sold to a joint venture between a \nMalaysian firm and state-owned company China Railway Engineering Corp.<\/p>\n\n\n\n
Bandar\n Malaysia and the revived rail link, which will run from Malaysia\u2019s east\n to west coast, \u201cshould be viewed within the larger context of fostering\n and cementing long-term bilateral relations between Malaysia and \nChina,\u201d the statement said.<\/p>\n\n\n\n
The projects will \u201cbe a significant \ncontribution to the Belt and Road Initiative which Malaysia expects to \nbe able to tap on,\u201d it added.\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"
Malaysia will revive a $34 billion Chinese-backed transport and property development that was abandoned in 2017, the Prime Minister said on Friday, adding […]<\/p>\n","protected":false},"author":1,"featured_media":59570,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[87],"tags":[],"class_list":["post-59568","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/59568","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=59568"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/59568\/revisions"}],"predecessor-version":[{"id":59571,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/59568\/revisions\/59571"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/59570"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=59568"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=59568"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=59568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}