Bandar Malaysia was commenced by the indebted 1MDB state investment fund in 2011 nevertheless of which later sold a 60% stake to the consortium. The government took over 1MDB’s stake due to its debt problems, nevertheless the project was terminated by the previous government in May 2017 due to a payment dispute with the consortium.
The 1MDB scandal led to the election ouster last May of former Prime Minister Najib Razak, who can be currently on trial for alleged corruption.
Chinese President Xi Jinping has made the Belt as well as also also Road initiative a signature policy. The estimated $1 trillion-plus plan aims to weave a network of ports, bridges as well as also also power plants linking China with Africa, Europe as well as also also beyond.
“These two major projects will also be a significant contribution to the Belt as well as also also Road Initiative, which Malaysia expects to be able to tap on as well as also also exploit its multiplier effects along the value chain,” Mahathir said.
Mahathir said the revived project will include 10,000 affordable homes as well as also also a people’s park as well as also also will prioritize the use of local construction material.
of which was originally designed to house the main hub for a high-speed rail line connecting Singapore to Kuala Lumpur of which might cut travel time to 0 minutes, nevertheless Mahathir’s government suspended the rail project on the ground of which of which was too costly.
Mahathir said there will be “sufficient room for the station” if the government later decides to go ahead with the high-speed rail line.April 17.
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