Najib: Scrapping ECRL project won't result in recouping RM10bil

A sign at the front entrace of the ECRL project in Bentong, Pahang, which has officially ceased after Prime Minister Tun Dr Mahathir Mohamad announced the project's cancellationon Aug 21.

PETALING JAYA: Former prime minister Datuk Seri Najib Tun Razak has dismissed the Finance Minister's statement that Malaysia will be able to recoup RM10.02bil if it cancels the East Coast Rail Link (ECRL) project.

He said if the project was cancelled, EXIM Bank of China, which funded the ECRL with a 20-year soft loan, would cancel the loan and would move to recover the RM19.6bil paid to the project contractor, China Communications Construction Co Ltd (CCCC).