Malaysia Pays Singapore $76m for Cancelling High-Speed Rail Project

Malaysia has paid $76.30 million to Singapore for the cancellation of the high-speed rail line between the neighbors after years of “stop-start negotiations,” officials said on Monday.

In the joint statement, the two countries said they agreed on the amount following a verification process by the Malaysian government.

“This amount represents a full and final settlement about the termination of the bilateral agreement,” the statement read.

The railway was expected to reduce travel time between the city-state and the Malaysian capital Kuala Lumpur from more than four hours to 90 minutes by car.

The neighbors scrapped the project in December after failing to agree on changes proposed by a new Malaysian government.

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