KUALA LUMPUR, May 18 — The East Coast Rail Link (ECRL) project actually costs more than RM66 billion as announced by Putrajaya before, Council of Eminent Persons member Tun Daim Zainuddin said today.

The former finance minister said following discussions with the ECRL team, it was found that the investment value of RM55 billion only covered Phase 1 of the project, and revealed that Phase 2 will cost an additional RM11 billion.

“ECRL is not RM55 billion. That is only for the first phase. For the second phase, there is another RM11 billion.

“Adding that up with the interest rates... it could probably be much, much more than that. These are the figures that I got from the team but let the government announce it,” he told a press conference here

When asked by reporters whether the cost was reasonable, Daim simply answered: “I was in Kelantan, and they said they prefer the money."

https://www.malaymail.com/s/1632482/daim-ecrl-costs-much-more-than-rm55b