China Railway Group invests US$ 2 bln in Malaysia
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E-mail CNTV, March 22, 2016
The China Railway Group, or CREC, announced Monday it will invest US$2 billion to build a regional center in Malaysia.
CREC president Zhang Zongyan said the company would make the investment to build an integrated office complex in Bandar, Malaysia, a future transport, business and commercial hub for Kuala Lumpur.
He also mentioned that the investment will bring bilateral benefits.
"Building a regional center here can invigorate the whole East Asian market. We want to take part in the construction of railways, roads and other infrastructure in East Asia to push forward the One Belt, One Road initiative in every East Asian country," he said.
The announcement came three months after CREC's successful bid with its Malaysian joint-venture partner to acquire 60 percent of the equity in the Bandar Malaysia project.
Malaysian Prime Minister Najib Razak hailed CREC's investment as another testimony to the long-standing friendly relations between Malaysia and China.
According to Chinese statistics, non-financial investment by Chinese companies in Malaysia recorded an impressive 237 percent increase to US$410 million in 2015.
Located about 7 kilometers from the Kuala Lumpur city center, Bandar Malaysia is designed as the future economic center of the country, and the terminal for the proposed high-speed railway linking the Malaysian capital and Singapore.
