18 April 2011

NGV Tech to Seal Naval Vessels Deal This Week

18 April 2011

2 new training ships will join together KD Hang Tuah as a training ship for TLDM (photo : KLSReview)

KUALA LANGAT: Shipbuilder NGV Tech Sdn Bhd will secure a contract this week to build two 75m naval ships for the Ministry of Defence.

"We will get the letter of award on Thursday," its executive chairman Datuk Zulkifli Shariff said last Saturday at the launch of the company's 300th marine vessel, called Mariner 1, at its Sijangkang shipyard here in Selangor.

Zulkifli declined to reveal the contract value.

It is however understood that the contract could be worth around RM50 million.

Mariner 1, a 36m 70-tonne docking tug launched by former prime minister Tun Dr Mahathir Mohamad and his wife Tun Dr Siti Hasmah Mohd Ali, will be deployed to Saudi Arabia soon for Marine Service Co Ltd (MSCL)

NGV Tech has a contract worth US$38.6 million (RM116.57) to build four vessels and two mooring boats for MSCL. Mariner 1 is the first of four vessels.

Zulkifli said NGV Tech is expecting more contracts from its clients worldwide as positive economic data builds up demand.

Currently, the value of contracts undertaken by NGV Tech at the Sijangkang shipyard is RM1.8 billion, lasting until 2014.

Some 90 per cent of the shipbuilding jobs are for its oil and gas clients in Greece, Yemen, Egypt, Nigeria, India, Iran, Norway, Mexico, Indonesia, Vietnam and Singapore.

Among its biggest clients are Saudi Arabia's Bakri Navigation Co Ltd, MSCL, Slok Shipping Nigeria Ltd and Acme Tower Co from Iran.

To support new orders, NGV Tech is building a 80ha shipyard in Bagan Datoh, Perak, for some RM600 million, on a land owned by Sime Darby Plantation.

At the event, Mahathir also handed over a crewboat built by NGV Tech to Sribima (M) Shipping Sdn Bhd, a local ship charterer, and signed a plaque signifying the launch of another crew boat for Syarikat Crossborder Scapes Sdn Bhd.

NGV Tech began operations in 1999 as a sub-contractor and has built 300 vessels of various sizes worth some RM3 billion.

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