Boustead Heavy Industries Corporation Berhad (BHIC) today announced that its subsidiary, Boustead DCNS Naval Corp Sdn Bhd (BDNC) has signed a total contract worth RM1.31billion (EUR193 million and RM532 million) with the Government to service the two royal Malaysian Navy Prime Minister-class Scorpene submarines, effective for a period ending Nov 30, 2015.
BHIC’s Executive Deputy Chairman and Managing Director, YBhg Tan Sri Dato’ Seri Ahmad Ramli Hj Mohd Nor, said: “We are pleased to have formalised this contract on which we have been working for several years. The contract negotiations between BDNC and the Government emphasised on the effective delivery of the in-service support (ISS) and the targeted technical availability of the submarines. It included the transfer of technology and know-how from our partner, DCNS, to our Malaysian personnel which is crucial to ensure local participation, self-reliance and local content in accordance with the National Defence Industry Policy.”
The contract does not differ in value from the original Letter of Award dated 13 August 2010. (BHIC)