KUALA LUMPUR (April 11): Malaysia is expected to seal an agreement with China to revive the East Coast Rail Link (ECRL) project, according to Sin Chew Daily's website.
Quoting a party that is involved in the negotiation, Sin Chew reported that the chairman of the Council of Eminent Persons, Tun Daim Zainuddin, has arrived in Beijing to iron out the final details of the agreement with Chinese authorities.
Daim is expected to hold a press conference to announce the outcome of the negotiation, which has lasted for more than six months, Sin Chew wrote.
The venue and date for the signing ceremony will only be confirmed upon the conclusion of the talks.
A representative from the Attorney-General's Chambers is expected to represent Malaysia in signing the agreement.
Sin Chew earlier reported that the cost of the ECRL has been slashed to between RM39 billion and RM46 billion, compared with RM60 billion currently. — theedgemarkets.com