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Boustead Heavy Industries Corporation Bhd Receives Contract To Design, Construct, Equip, Test And Deliver Six Units Of Second-Generation Patrol Vessels

Tuesday, 1 Oct 2013 05:27am EDT 

Boustead Heavy Industries Corporation Bhd announced that its associate company, Boustead Naval Shipyard Sdn. Bhd. (BN Shipyard) has received an amended Letter of Acceptance (Amended LOA) dated September 27, 2013 from the Ministry of Defence Malaysia for the contract to design, construct, equip, test and deliver six (6) units of Second-Generation Patrol Vessels with Combatant Capabilities (Littoral Combatant Ships, LCS) for the Royal Malaysian Navy (the Contract). Via the Amended LOA, the Ministry of Defence Malaysia has confirmed the following:- (i) The value of the Contract has been fixed at MYR9.0 billion., (ii) The Contract period is 10 years, effective from December 29, 2011 to December 28, 2021and (iii) Further advance payment of MYR700 million will be paid in stages to BN Shipyard. 

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