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 the project would contribute to Beijing\u2019s global infrastructure drive. The announcement came after the countries agreed this month to resume work on a previously suspended railway project in Malaysia, and is the […]<\/p>\n","protected":false},"author":1,"featured_media":59570,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"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}]}}