This marks another diplomatic milestone between Malaysia and China.
For the close ties between Malaysia and China, Malaysia is able to secure a huge loan of more than RM1.7 bil (US$500mil) from China for the 2nd Penang Bridge project (RM2.7bil). The huge loan is the largest for a single project given to a foreign country by China.
The loan will be handled over from the Bank of China to Bank Pembangunan, Malaysia.
Construction of the bridge will begin in early 2008 and be completed in 2011.
The bridge will link Batu Maung, Penang Island and Batu Kawan on the mainland of the Malaysian peninsular.
UEM will co-operate with China Harbour Engineering Company (CHEC) to build the second Penang bridge.
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Do you know that?
- CHEC (China Harbour Engineering Company) is one of the foremost builders of bridges in the world with brilliant achievements in constructing some longest bridges in the world.
- The 2nd Penang bridge (24km long) will be the longest in South-East Asia.- In the diplomatic history, Malaysia was the first Asean country to have formal ties with China.
RM1.7bil loan from China for the second Penang bridge
CHEC - Introduction
CHEC - Achievements