Malaysia Marine and Technip units win US$775m contract

KUALA LUMPUR, Feb 8 — Malaysia Marine and Heavy Engineering Holdings Bhd said today its subsidiary won a US$775 million (RM2.4 billion) contract to build a floating offshore facility jointly with a local unit of France’s Technip SA.

The units have equal stakes in the joint venture, which successfully bid for the Malikai deepwater project off the coast of Sabah awarded by Sabah Shell Petroleum Company Ltd, according to a filing in the stock exchange.

The project is expected to be completed by the third quarter of 2015. — Reuters