In forfeiting its right to select the contractor for the East Coast Rail Link (ECRL) project, Malaysia has denied local players from gaining experience in the field, said PKR Bandar assemblyperson Azan Ismail.
"To me it is unfortunate we do not have the right to determine the contractor for a project in our own country.
"In fact, this situation will sideline local companies and deprive them of benefiting from any transfer of knowledge or technology," he added in a statement.
Azan, who is also Terengganu PKR chairperson, said this could be the first strategic national project that has been given wholesale to a foreign country to implement.
"The ECRL project cost is too high. It should cost half of the current RM55 billion.
"The financing of this is in the form of loans from China, which means taxpayers and future generations must pay back loans taken by the government today," he added.
He said dependence on China for the loan to carry out the project, along with other deals with China such as the sale of national assets Bandar Malaysia and Tun Razak Exchange, has allowed the foreign country to "colonise" Malaysia through economic and financial muscle.
"As a result of the loan from China, it appears as if the Umno-BN government now owes China a favour and looks to be keeping silent and is not defending our rights in the South China Sea," he claimed.
Azan also criticised the lack of transparency in the terms of the loan and the interest payments.
The opposition has been highly critical of the ECRL project, which has been called a potential "white elephant" and accused of being an attempt to procure funds to bail out the debt-ridden 1MDB.
The rail link between the East Coast and Klang Valley has also been called redundant as there is an existing rail line serving the East Coast. - Mkini
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