Prime Minister Dr Mahathir Mohamad has admitted the renegotiation of the suspended East Coast Rail Link (ECRL) project has been a tough process.

"It is not an easy thing to renegotiate, but we will continue until we succeed," he told media when attending World Chinese Economic Forum today.

The 93-year-old said he has no idea how much time is needed for the renegotiation process.

The government has entrusted the renegotiations to Council of Eminent Persons chairperson Daim Zainuddin.

Daim was reportedly saying the talks between Malaysia and the Chinese firm have begun but he needs more time to deal with the matter.

The RM80 billion ECRL project was first approved by the previous government on Oct 21, 2016, and the Engineering, Procurement, Construction and Commissioning Agreement was signed with China Communication Construction Company on Nov 1 that year.

However, the new government has scrapped the project, saying it was overpriced and not economically feasible.