KUALA LUMPUR: Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE), via its wholly-owned subsidiary Malaysia Marine and Heavy Engineering Sdn Bhd, is exploring a long-term collaboration with Hanwha Power Systems Co Ltd (HPS), a unit of South Korea's Hanwha Group, to develop selective newbuilding, and conversion and retrofit projects for existing vehicles.
The Malaysian energy and marine solutions group said it would serve as HPS's strategic shipyard partner in the region, providing construction and installation capabilities to deliver integrated and end-to-end solutions.
HPS will, in turn, contribute its engineering and procurement expertise to support selective newbuilding, conversion and retrofit projects including areas of mutual strategic value.
"This partnership reflects MHB’s strategic focus on diversifying its portfolio, maintaining a strong foundation in existing work while selectively pursuing newbuilding opportunities, and will significantly support our customers’ decarbonisation efforts as well as propel the maritime industry toward more sustainable practices.
"We remain committed to driving innovation and strengthening our position as a market leader in sustainable maritime solutions," said MMHE managing director and CEO Mohd Nazir Mohd Nor in a statement.
HPS CEO Rafi Balta added that the collaboration will enable the parties to deliver high-value solutions and support their customers’ decarbonisation journey while advancing practical and sustainable innovations for the maritime industry.