Major investments plans worth MYR1.9bn ($600m) have been revealed by Malaysia Marine & Heavy Engineering (MMHE), one of Malaysia’s top providers of marine engineering services, Seatrade reported Friday.
The said investment would encompass the upcoming period of four years, targeting extensive yard optimization program which will enable MMHE to meet the growing demand for its services.
Namely, as confirmed by chairman of MMHE Nasarudin Md Idris, the company’s order book for last year totaled to MYR3.1bn. Presently MMHE is in the final round of talks with Kebabangan Petroleum Operating aimed at arranging contract details on a project, which is expected to be concluded by October 2013.
Moreover, the company is pushing forward to enhance the number of orders for this year as well and is pending results on various bids such as for contracts in Turkmenistan, the Thai-Malaysia Joint Development Area and Kebabangan, East Malaysia.
The upgrading process of the yard will begin already this year, for which purpose the company assigned MYR300m.
Malaysia Marine and Heavy Engineering (MMHE), formerly known as Malaysia Shipyard & Engineering, offers a wide spectrum of engineering and construction services, including FPSO/FSO conversion, turret fabrication, oil & gas construction and LNG carrier & petroleum tanker repair. MMHE is also moving aggressively to become the regional centre of excellence for deepwater development, having recently completed the first SPAR structure to be installed outside Gulf of Mexico.
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World Maritime News Staff, June 8, 2012; Image: MMHE