Malaysia Marine & Heavy Engineering unveils $600m yard upgrades
Malaysia Marine & Heavy Engineering (MMHE) is planning to splash MYR1.9bn ($600m) over the next four years on upgrading its yard, Seatrade Asia online reports.
This year alone, MMHE plans to spend MYR300m on its yard optimisation programme.
In addition MMHE is also aiming to boost its orderbook to MYR4bn, taking into account its bid for contracts in Turkmenistan, the Thai-Malaysia Joint Development Area and Kebabangan, East Malaysia.
“At the end of last year, our orderbook stood at MYR3.1bn - not taking into account the RM1.2 billion Kebabangan project, which was novated to us when we concluded the agreement to purchase the former Sime Darby engineering yard,” said Nasarudin Md Idris, chairman of MMHE.
He added that MMHE is finalising the contract with the Kebabangan Petroleum Operating and the project is expected to be fully completed by October 2013.
