PUTRAJAYA (Feb 1): Prime Minister Tun Dr Mahathir Mohamad reiterated today that negotiations on the fate of the East Coast Rail Link (ECRL) project are ongoing. He expressed hope that a decision can be reached "as soon as possible".

"The status of the project is that now it is being negotiated, and that I cannot say what is happening, because I have to wait for the result," he said in a press conference after chairing the Pakatan Harapan presidential council meeting. 

He was responding to questions on the latest status of the project and whether China had contacted Malaysia on a reported fresh offer. 

Reuters, quoting sources, reported yesterday that China had offered to nearly halve the cost of the RM81 billion rail project, but "contradictory remarks by Malaysian ministers leave the outcome uncertain." 

According to the source, China Communications Construction Co Ltd (CCCC) had offered to cut the construction costs of the 688km rail link from RM67 billion to as low as half the sum. 

However, just last week, the government said it had confirmed the cancellation of the ECRL contract with CCCC over a RM500 million interest cost.