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Boustead gets $14m harbour tug contract

Boustead gets $14m harbour tug contract
Boustead Heavy Industries Corp (BHIC) unit BHIC Shipbuilding and Engineering has secured a MYR54.9m ($14.2m) contract from KFS Support Services (KFS) to design, supply, construct, test and commission and deliver three 45 tonnes Bollard Pull ASD harbour tugs.

The company said in a stock market filing that the contract is however subject to KFS fulfilling the conditions of its contract with Konsortium Pelabuhan Kemaman and a support letter from a financial institution confirming the funds for the project.

“The project will contribute positively to the earnings of the company for the financial year ending 31 December 2016,” BHIC said.