BHIC signs JV with Turkish shipbuilder

KUALA LUMPUR: Boustead Heavy Industries Corporation Bhd (BHIC) has proposed entering into a joint venture in Malaysia with Turkey?s Yonca-Onuk Savunma Sanyii AS shipyard to build vessels for the government and private customers.

BHIC said the JV aimed to be ready for production of the vessels in Malaysia next year and would promote the transfer of technology and usage of Malaysian content.

BHIC?s subsidiary, BHIC Defence Technologies Sdn Bhd (BHDT), yesterday sealed a JV agreement with Yonca, which is a wholly-owned subsidiary of Yonca-Onuk Ortakligi, an industrial-scale enterprise with a modern shipyard capable of serial production of state-of-the-art pleasure, commercial and naval craft.

It said Yonca has the expertise to design and build composite boats for operation in tropical waters to fulfil duties as fast patrol/escort/rescue craft, search and rescue, anti-smuggling, pollution control and terrorist protection coastal and offshore installations and surveillance.

BHIC said a third shareholder, ML Orient Sdn Bhd, would be nominated by Yonca within 60 days. BHDT, Yonca and ML will hold 51%, 30% and 19% respectively of the JV company.