Daim, who was appointed to head the ECRL negotiations, said the project is becoming closer to reality.

He said it would have new commercial elements that would have a greater impact on Malaysian companies and people.

“When we discuss, we negotiate and I like to make a commercial deal. A lot more (projects) will come our way and we will get more profit,” the former finance minister said in an interview on TV3’s prime-time “Bulletin Utama” tonight.

Commenting on the status of the discussion, Daim said Malaysia had received an invitation from the Chinese government to finalise the project on April 2.

“However, it cannot be executed on the same day, instead (it will be finalised) in the same week.

“Alhamdulillah, in the present situation, we may be able to resolve this as soon as possible. I have a good relationship with them as I have known them since 1971. Maybe they are comfortable with me. I am an old man,” he said.

The ECRL project was previously approved by former prime minister Najib Razak in October 2016 at a cost of RM55 billion.

However, Prime Minister Dr Mahathir Mohamad said on Wednesday the government would be saddled with a RM130 billion debt if the ECRL project was implemented on its current terms and conditions.

The 688km project is planned to link Port Klang in Selangor to Pengkalan Kubor in Kelantan.