Liow: Ringgit drop contributed to ECRL cost hike

The RM26 billion cost increase in the East Coast Rail Link (ECRL) project from RM29 billion to RM55 billion is due in part to the fall in the ringgit, said Transport Minister Liow Tiong Lai.

Liow said the figures cited in the project's feasibility study was based on 2009-2010 exchange rates.

“That time dollar is only RM3.2 to a dollar, now its RM4.2 and gone up to RM4.5,” Liow said while explaining the cost increase for materials.