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Cancelled $10.5bn Malaysia port project plays down China role
The Melaka Gateway project is a $10.5 billion project of a vast artificial island off the coast of Malaysia. In late November authorities cancelled land reclamation of this project awarded to KAJ Development after four years of “no development”.
The massive project was awarded to KAJ, a Malaysian-registered and -owned developer, in 2016 during the administration of former Prime Minister Najib Razak. The following year, the company roped in Chinese companies PowerChina International Group which is an entity of China’s state-owned, Shenzhen Yantian Port Group and Rizhao Port Group to develop the project jointly.
A high-ranking state government official told Nikkei Asia that KAJ’s failure to acknowledge the extent of Chinese involvement in the development led to it being labelled a “China project” among state authorities.
Source: Nikkei Asia #Dec03
https://asia.nikkei.com/Business/Transportation/Canceled-10.5bn-Malaysia-port-project-plays-down-China-role?fbclid=IwAR3Vp2AL1Y1jTsiCuUVPfotav8_bpWR5md3tpRS2Ak_RGaQwyu9hFXmyzG8
#Malaysia #China #ChinaStateOwnComapny
The Melaka Gateway project is a $10.5 billion project of a vast artificial island off the coast of Malaysia. In late November authorities cancelled land reclamation of this project awarded to KAJ Development after four years of “no development”.
The massive project was awarded to KAJ, a Malaysian-registered and -owned developer, in 2016 during the administration of former Prime Minister Najib Razak. The following year, the company roped in Chinese companies PowerChina International Group which is an entity of China’s state-owned, Shenzhen Yantian Port Group and Rizhao Port Group to develop the project jointly.
A high-ranking state government official told Nikkei Asia that KAJ’s failure to acknowledge the extent of Chinese involvement in the development led to it being labelled a “China project” among state authorities.
Source: Nikkei Asia #Dec03
https://asia.nikkei.com/Business/Transportation/Canceled-10.5bn-Malaysia-port-project-plays-down-China-role?fbclid=IwAR3Vp2AL1Y1jTsiCuUVPfotav8_bpWR5md3tpRS2Ak_RGaQwyu9hFXmyzG8
#Malaysia #China #ChinaStateOwnComapny
Nikkei Asia
Canceled $10.5bn Malaysia port project plays down China role
Melaka Gateway faced scrutiny amid rising number of Belt and Road deals