China to shave $2.45bn off cost of Malaysia’s East Coast Rail Link

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China’s government has reportedly offered a $2.45bn cut in construction costs for Malaysia’s now controversial East Coast Rail Link. Having been stalled for some time, China is keen to get things moving again before next month’s meeting between the two country’s governments. Malaysia’s PM, Mahathir Mohamad, is due to travel to China on 25 April to discuss, among other things, the Belt and Road Initiative. This report from The South China Morning Post claims the $2.45bn cut is aimed at getting an agreement finalised at the start of the month, a fortnight before Mr Mohamad’s arrival in Beijing.