A Malaysian man walks in front of a mural of missing Malaysia Airlines MH370 plane in hah Alam, Malaysia on March 8, 2016. (Photo: AFP/VNA) Hanoi (VNA) – The Malaysian Government signeda deal on January 10 with US-based Ocean Infinity in a new attempt to searchfor the missing Malaysian Airlines aircraft MH370 in which the seabedexploration firm will receive up to 70 million USD if it finds the jet.The private company will search for MH370 in the25,000-sq.km priority area on “no-cure, no-fee” basis, meaning it will only getpaid if it finds the plane, said Malaysian Transport Minister Liow Tiong Lai ina press conference after the signing.Under the agreement, Ocean Infinity will be paid 20million USD if the plane is found within 5,000 sq.km, 30 million USD within10,000 sq.km, and 50 million USD within an area of 25,000 sq.km. Beyond thatarea, the firm will receive 70 million USD, he noted.Its priority is to locate the wreckage or the flight andcockpit recorders, he added.Ocean Infinity has dispatched the search vessel SeabedConstructor to search for the debris in the southern Indian Ocean with 65 officersand crew members on board, including two government representatives from theMalaysian navy.The search will start on January 17 and is expected tolast 90 days.MH370 with 239 people aboard went missing en route fromKuala Lumpur to Beijing on March 8, 2014.The search for the missing plane ended in January 2017 after almost three-yearefforts jointly made by international organisations, private sectors,governments and individuals.-VNA
A view of the production area (Photo: VNA) The 13-hectare area is invested by four Taiwanese firms – DDK Vietnam, Yi Xing, T-Star and Every Young companies, which are specialised in real estate, factory leasing, industrial infrastructure investment consultation, environmental protection equipment, electricity and aluminum product production. The construction of the area is considered the start in forming a concentrated production cluster of Taiwanese firms in Binh Duong, with total planned investment of USD200 million on an area of 80 hectares at the IP. Addressing the ceremony, Vice Chairman of the Binh Duong People’s Committee Tran Thanh Liem hailed…... [read more]
The factory at Amata Industrial Park in Bien Hoa city will bebuilt at a total investment of more than 28 million USD. It will engagein producing foodstuff such as sauce, curry and soup. Thefactory will be capable of producing nearly 10,000 tonnes of sauce ayear, mostly for export to Japan.In the future, apart from beingsold in Vietnam, its products are expected to be exported to otherAsian countries. Phan Thi My Thanh, Vice Chairwoman of theprovincial People’s Committee, said the province’s 31 industrial zoneshave so far attracted 1,370 projects, including 900 valid ones, from 39countries and territories, including Japan , Taiwan…... [read more]
The World Bank (WB) has agreed to provide 69.9 million USD to upgradethe urban area in the southern city of Can Tho , according to localauthorities. The money, which is in the form ofOfficial Development Assistance (ODA) with a grace period of five yearsand a yearly interest rate of 2.5 percent, will be injected into the CanTho Urban Upgrading Project. The Vietnamese Government will earmark 20.4 million USD to the project. The project covers the upgrading of local infrastructure includingroads, water supply and drainage systems, lighting systems, environmentand hygiene equipment and other facilities. It willbe implemented in two phases, the…... [read more]
The PetroVietnam Technical Services Co(PTSC) won two international tenders to provide an oil and gas vesseland services to Talisman Malaysia Co Ltd – Canada’s largest investor inMalaysia. The two sides signed contracts totalling about 35 million USD on April13 in Kuala Lumpur. Under the deals, PTSC will supply a multi-functional DP2 PlatformSupply Vessel to Talisman Malaysia and a “braided line” service. Deputy president of Talisman Malaysia Wee Yiaw Hin said PTSC played asignificant role in the building and maintaining of project PM3-CAA andsupported the enterprise’s operations well. PM3-CAA is being implemented in the area between Vietnam and Malaysiaunder an oil…... [read more]
Inside Terminal T1 at Noi Bai International Airport. (Photo: VNA)Visual Defence, a Canada-based security convergence company is proposing to provide security solutions for Noi Bai International Airport during a working session with Minister of Transport Dinh La Thang and Canadian Ambassador to Vietnam David Devine on September 8. Accordingly, the project will be conducted under a build-operate-transfer (BOT) contract over 20 years with a total cost of 210 million USD and will be upgraded every five years. Visual Defence will collect security fees, 5.75 USD per international visitor and 1.5 USD per domestic passenger, to pay back their construction investment.…... [read more]
