KUALA LUMPUR: The government has awarded two contracts valued at more than RM1.2 billion to BOUSTEAD HEAVY INDUSTRIES CORP [] Bhd (BHIC) to undertake the in-service support for two of the navy's Scorpene submarines.
BHIC said on Friday, Aug 13 its subsidiary Boustead DCNS Naval Corporation Sdn Bhd had received the letter of award for total contract sums of 193 million euros (RM784.22 million) and RM532 million for the period ending Nov 30, 2015.
"The difference in contract value being awarded from the initial letter of intent, announced on the June 4, 2009, is due to the inclusion of a full submarine integrated logistics support package," it said.
BHIC said this consisted of a comprehensive spare parts package as well as the outfitting of workshop equipment, respective yard facilities and equipment, submarine safety conditioning facilities and their corresponding upkeep and maintenance.
The contract also covers tug boat services and the operation and maintenance of the shiplift, transfer system and submarine 'umbilical services'.
BHIC said in accordance to the National Defence Industry Policy, emphasis would be placed on the transfer of TECHNOLOGY [], know-how and skills-set from the French to the Malaysian personnel to ensure local participation, self reliance and local content.
BHICH expected the contract tol have a material effect on the earnings for the financial year ending Dec 31, 2010 and will contribute positively to the future earnings of BHIC group.
BHIC said on Friday, Aug 13 its subsidiary Boustead DCNS Naval Corporation Sdn Bhd had received the letter of award for total contract sums of 193 million euros (RM784.22 million) and RM532 million for the period ending Nov 30, 2015.
"The difference in contract value being awarded from the initial letter of intent, announced on the June 4, 2009, is due to the inclusion of a full submarine integrated logistics support package," it said.
BHIC said this consisted of a comprehensive spare parts package as well as the outfitting of workshop equipment, respective yard facilities and equipment, submarine safety conditioning facilities and their corresponding upkeep and maintenance.
The contract also covers tug boat services and the operation and maintenance of the shiplift, transfer system and submarine 'umbilical services'.
BHIC said in accordance to the National Defence Industry Policy, emphasis would be placed on the transfer of TECHNOLOGY [], know-how and skills-set from the French to the Malaysian personnel to ensure local participation, self reliance and local content.
BHICH expected the contract tol have a material effect on the earnings for the financial year ending Dec 31, 2010 and will contribute positively to the future earnings of BHIC group.
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