‘ECRL-related projects expected to lift socioeconomic activities’
KUALA LUMPUR: The East Coast Rail Link-Economic Accelerator Projects (ECRL-EAP) will boost socioeconomic activities in various sectors such as construction, tourism, trade and industrial development, said Malaysian Investment Development Authority (Mida).
The ECRL-EAP is an infrastructure programme that started in April 2019 in collaboration with Mida and China Communications Construction Company.
Mida said the ECRL project was replete with opportunities for companies and it would be a huge loss if those were untapped.
“Given that the project is the largest ever to be undertaken along the East Coast alignment, it would be ideal for companies to seize the available opportunities.
“Areas that could be further explored — being EAP enablers — are construction (products and services), renewable energy, sustainability products and services, education and training centres, shared utility service like waste management, and research and development.
“This will create more economic opportunities and new jobs at each of the EAP.”
Mida also said the successful implementation of the ECRL required cooperation among all stakeholders.
“Mida is eager to support businesses eyeing ECRL-EAP investments. This will enhance the project’s allure for investors. This effort is crucial in maintaining an edge over competing initiatives, such as Thailand’s proposed Kra land bridge.
“We are calling on more companies to join forces with the government via Mida.”
Mida will also promote programmes in Kelantan, Terengganu, Pahang and Selangor related to the ECRL-EAP. It has initiated engagements with key stakeholders, including local governments, industry associations, park managers and developers, government-linked investment companies and real-estate investment trusts to raise awareness of the EAP and to reach a wider audience.
“Participation from all stakeholders is important. Issues such as floods, infrastructure, utility readiness, zoning restrictions and land categorisations have been identified.
“To address these concerns, Mida is working closely with key stakeholders such as utility providers, state governments, associations and developers to make sure that the issues are addressed and an enabling environment is provided for development and investment along the route,” it said.
Mida, through the domestic investment coordination platform (DICP), plays a role in connecting investors with financiers.
The DICP facilitates direct engagement between investors and financiers, allowing them to discuss funding options, negotiate terms and explore alternative financing arrangements.
The RM50.27 billion ECRL project aims to connect Kota Baru to Port Klang.
Spanning 665km, the project is targeted to be completed in December 2026 and operational in January 2027.
As of February this year, the project was 62.4 per cent complete.