BHIC receives one-year extension for submarine contract

KUALA LUMPUR (Bernama) -- Boustead Heavy Industries Corporation Bhd (BHIC) has accepted the additional letter of acceptance (LoA) from the Defence Ministry for the extension of contract for a period of one year until Dec 31, 2021 for a new contract value of RM159.15 million.

The extension of contract was for the contract received by its unit Boustead DCNS Naval Corporation Sdn Bhd as was announced on June 16, 2020 (valued at RM154.3 million) for a provision of In-Service Support for Prime Minister’s Class Submarines for the Royal Malaysian Navy contract.