Malaysian offshore facilities builder Malaysia Marine and Heavy Engineering (MMHE) has teamed up with Eastern Pacific Industrial Corporation, (“EPIC”) forming a joint venture company known as MMHE EPIC Marine & Services Sdn Bhd.
The purpose of the company, MMHE said, is to provide repair services for marine vessels which include dry-docking repair, refit, refurbishment, maintenance and technical solutions at the ship repair facilities located in Kemaman, Terengganu.
MMHE is the majority shareholder with 70% shares and EPIC with 30% shares in the joint venture company. MMHE said the JV would benefit from a combination of MMHE’s existing expertise in marine and oil & gas services and EPIC’s integrated facilities in Kemaman.
“MMHE has the capability in ship repairs, dry docking upgrading, conversions, modifications and other shipyard-related business activities and able to provide full engineering, procurement, construction, installation and commissioning (“EPCIC”) for the offshore oil & gas industry. Meanwhile, EPIC is in the business of service and facilities provider for the marine and oil & gas industries, comprising of an integrated customs bonded supply base, fabrication, threading, shut-down and maintenance services,” MMHE said in a statement on Monday.
Eastern Pacific Industrial Corporation Berhad (‘EPIC’) is a Terengganu State Government linked corporation. EPIC’s business is principally supporting the oil and gas services industry. Its core businesses are supply base services catering to the oil and gas offshore industry, port management as well as pipe threading, and fabrication work.
En Noor Fadzil Mohamed Nor, Group Managing Director and Chief Executive Officer of EPIC said, “This is EPIC’s first Joint Venture agreement since its establishment 35 years ago. We feel
honored to collaborate with MMHE and hope for this networking to continuously spread, possibly to a global scale, particularly in terms of investment in oil and gas sector.”