Indonesian Political, Business & Finance News

Malaysia unveils new federal capital

| Source: AP

Malaysia unveils new federal capital

PUTRAJAYA, Malaysia (AP): After months of suspense, the government on Friday unveiled its massive new federal capital, touted as the savior of Malaysia's battered economy and a shining example of the country's determination to develop.

The 4,580-hectare metropolis built to house 330,000 government employees is far from complete.

Putrajaya's dozens of high-rise complexes are still dwarfed by fields of red mud and surrounded by cranes and dump trucks.

But Putrajaya officials are exultant. "The continued development of Putrajaya has helped the country's economy to recover," proclaimed Azizan Zainal Abidin, president of project developer Putrajaya Holdings. "Putrajaya has helped keep the (construction) industry from collapsing altogether."

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