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According to a report on the Russian Satellite News Agency website on August 15, the Malaysian Ministry of Transport issued a statement on August 14 saying that it plans to purchase new passenger trains through a leasing agreement with China.

The statement noted that the first phase of the plan will be implemented between 2024 and 2027, with the government planning to purchase 62 new passenger trains at an estimated cost of 17.2 billion yuan, which will be repaid in installments over a 30-year lease period.

▲File photo: The train developed by China for Malaysia enters the local station (Xinhua News Agency)

"The actual cost will be determined after completing negotiations with the Chinese side in the near future," Malaysian Transport Minister Loke Siew Fook said, according to the report. He added that the cost will include maintenance, repair and operation services from the train suppliers.

Loke said that nearly 90% of the passenger trains in the Malayan Railway Corporation's service network are manufactured by CRRC. "In terms of technology and operating income, CRRC is a world-leading railway industry manufacturer."