The idea is to bail the millions now buried by bringing fresh bullion to the bargain, in the amount of RM9 billion. This is only a preliminary estimate of final costs, the customary procedure in Malaysian mega-projects. The old estimate, however, was higher. It has been reduced by eliminating expensive submarine cables which were to deliver excess power generated across the South China Sea to peninsular Malaysia. The excess generating capacity is now to remain on standby in Borneo fueling future development.
All power is now to be distributed within the island of Borneo.
But Borneo has no desperate need for such expensive electrical power, nor for water. The finance minister says he has found the money, to be supplied by a foreign fund. Asked if it is in hand, he hesitates. Given the present investment climate, there is unlikely to be any foreign fund willing to support this environmental disaster. The necessary economic fundamentals are full of fault.