RFA, Nov 18’ 2020
The Malaysian state of Malacca has terminated a $10.5 billion Chinese-supported harbor development project because the developer had failed to complete the undertaking, a statement from the chief minister’s office said.
The Malaysian company, KAJ Development Sdn. Bhd., which was backed by state-owned PowerChina, immediately has to return the 609-acre site where it had agreed to build economic parks and tourist attractions on artificially constructed islands.
The statement from the chief minister’s office noted that the Melaka Gateway project agreement, which was signed on Oct. 4, 2017, expired at the end of three years on Oct. 3.
“The company, KAJ Development Sdn. Bhd., was found to have failed in completing the project. Therefore, a notice of termination of agreement was filed to the company on Nov. 16,” the office said in a news release.
The chief minister’s office declined to comment when contacted later by BenarNews. In addition, KAJ and Chinese Embassy officials did not immediately respond to email and text-message queries from BenarNews, an RFA-affiliated online news service.
In full: https://www.rfa.org/english/news/china/project-11182020172136.html
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