Terengganu state-owned company Eastern Pacific Industrial Corporation Bhd (EPIC) has signed a Letter of Intent (LoI) with Qaswa Holdings on November 1 to explore opportunities within Brunei’s maritime cluster, focusing on its pioneering marine maintenance and decommissioning yard (MMDY).
The agreement paves the way for EPIC acquire shares and support the operations of Adinin Group’s Qaswa, who are the lead local partner in Anson International, operator of Brunei’s first MMDY on Pulau Muara Besar (PMB), scheduled to be operational by 2026.
EPIC’s involvement represents another foreign direct investment (FDI) in the MMDY project, joining Anson’s technical partners—South Korea’s Dongil Shipyard for marine maintenance and the UK’s CessCon Decom for decommissioning.
“This potential partnership represents a significant chapter for EPIC as we expand our international footprint and expertise. I am confident the LoI will unlock substantial opportunities beyond potential shared acquisitions, enabling valuable exchanges of expertise to elevate our capabilities and broaden our offerings in major infrastructure projects,” said EPIC Group CEO Hj Muhtar Suhaili.
Source: Biz Brunei
Read the full article here
November 21, 2024
