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Tag Archives: Malaysia scraps multi-billion dollar China-backed project

Malaysia scraps multi-billion dollar China-backed project


January 26, 2019

A multi-billion dollar China-backed rail project in Malaysia has been scrapped, government officials said on Saturday, adding that the cost of building it was too high. Malaysia has in recent months suspended several major projects signed under the country’s previous scandal-plagued regime, in a bid to cut the country’s massive one trillion ringgit ($251 billion) debt. Economics minister Azmin Ali …

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