KUALA LUMPUR: Boustead Heavy Industries
Corporation Bhd's (BHIC) joint venture to provide in-service support contract to the air force's EC725 helicopters has been extended for another three years valued at RM215mil.
BHIC said on Friday, BHIC AeroServices Sdn Bhd had received a letter of award from the Ministry of Defence (MinDef) to extend the contract, effective from March 24, 2017.
“The extended letter of award will contribute positively to the earnings of BHIC Group for the financial year ending Dec 31, 2017 and its future earnings,” it said.
BHICAS is a JV between BHIC Defence Technologies Sdn Bhd (51%) – a unit of BHIC -- Prestige Pillar Sdn Bhd (30%) and Airbus Helicopters Malaysia Sdn Bhd (19%).
The original contract was awarded on March 21, 2014 to provide the in-service contract for three years totalling RM220mil.
The total value of the contract and the renewed job totals RM435mil.
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