Samsung LNG JV

Malaysia Marine and Heavy Engineering Sdn. Bhd., formerly known as Malaysia Shipyard & Engineering Sdn. Bhd, has signed an agreement with Samsung Heavy Engineering to set up a joint venture for LNG carrier repairs.

The JV, named MMHE-SHI LNG Co, has a capital of $ 1 million with Samsung HI owning 30% and MMHE 70%. Samsung will provide technical know-how and technicians for LNG carrier repairs while MMHE will provide the workforce.