GOMBAK: The main rail track construction for the East Coast Rail Link (ECRL) from Kota Baru to Gombak, spanning 519km, has been completed ahead of schedule, marking a major milestone for the RM50.27 billion project.
Finance Minister II Senator Datuk Seri Amir Hamzah Azizan said the achievement reflected the strong dedication and close cooperation between Malaysia Rail Link Sdn Bhd (MRL) and China Communications Construction (ECRL) Sdn Bhd (CCC-ECRL), as well as the support of all parties involved.
He said the 665km ECRL project has also achieved an overall construction progress of 92.62 per cent as of February this year.
"The ECRL project has now reached 92.62 per cent overall construction progress as of February, in line with the schedule to complete the Kota Baru–Gombak line by the end of this year and begin commercial operations in January 2027.
"The section between Gombak and Port Klang in Selangor is expected to be completed by December 2027, with full operations commencing in January 2028.
"The commercial operation of EMU and E-Loco trains will open a new chapter in strengthening the ECRL as a green transport mode for passengers and cargo across the 665km electrified rail network linking the East Coast states and Selangor," he said in his opening remarks at the ceremony to officiate the signing of the ECRL Foreign Exchange Risk Management Agreement here today.
Present were Chief Secretary to the Government Tan Sri Shamsul Azri Abu Bakar, Public Service Department director-general Tan Sri Wan Ahmad Dahlan Abdul Aziz, Deputy Finance Minister Liew Chin Tong, MRL chief executive officer Datuk Seri Darwis Abdul and CCC-ECRL managing director Deng Bo.
At the ceremony, Amir Hamzah officiated the signing of a Joint Lead Coordinator (JLC) agreement between MRL and eight banking institutions to establish a foreign exchange risk management mechanism for financing the project.
The agreement involves Maybank, CIMB, RHB Bank, AmBank, Bank of China, United Overseas Bank, China Construction Bank and Industrial and Commercial Bank of China.
Amir Hamzah said the JLC arrangement would strengthen the project's foreign exchange risk management framework, making it more structured, transparent and disciplined.
He said the initiative also enhances governance, transparency and accountability in line with the Madani government's commitment to ensure national development projects are implemented with strong fiscal discipline. - NST
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