Managing director Abdul Hak Md Amin said the conversion is expected to contribute about $40m to revenue over the next four years.
“The FSO is an ongoing project and slated to be completed in April 2015,” he was quoted as saying.
Abdul Hak added that the company will be delivering six new tugboats of varying sizes in 2015 with each worth an average of MYR20m ($5.7m).
As of 31 October this year, EA Technique operated 31 marine vessels, comprising eight tankers, inclusive of one floating storage unit, two offshore support vessels and 21 marine support vessels.
Besides its expansion plan, the company will also be tendering for a few projects worth MYR1bn, and hopes to secure one or two of these in the near future.
EA Technique currently has a MYR1.2bn orderbook which puts it in a comfortable position to bid for projects that are strategic to its growth plans.
“This orderbook will last us until 2025. The group aims to focus on the domestic market for now as it has quite a handful of projects within it,” said Abdul Hak.
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