LANGKAWI, June 29 ― Boustead Langkawi Shipyard Sdn Bhd is negotiating joint-ventures (JVs) with investors from China and New Zealand to start off the production of luxury vessels that could generate additional income of as much as RM70 million annually.
General Manager, Commander (Rtd) Raja Mohamed Mustafa said today, the company is currently in talks with entities from both countries to commence the building of 12 metre and 18 metre long vessels at its Tanjung Lembong shipyard here.
“We are going very fast track (on these negotiations). We expect to secure it (the agreements) this year and materialisation of the project next year,” he said when met during Boustead Langkawi's Hari Raya Open House at the shipyard.
He said the success of the project would not only benefit Boustead Langkawi, but also boost the local economy over the next few years, with companies and skilled workforce being involved in the production.
“Our strategy is not only to fortify Boustead Langkawi’s position, but also intensify the economic spillover for Langkawi, so that the local populace can share benefits of jobs secured,” he added.
Raja Mohamed said the company which had been operating since 2001 here was also awaiting the possibility of participating in the fabrication of parts for new vessels for the Royal Malaysian Navy (RMN).
“Probably it will be finalised by September or October and if we get the contract, it will be a busy time ahead for us and.More locals will also benefit in terms of employment and materials supply,” he added.
He said the company would also continue to offer opportunities for students of higher learning institutions to carry out maritime industry research and internships, targetting not less than 50 per year. ― Bernama
