KUALA LUMPUR (Reuters) – Malaysia’s has agreed to terms and conditions of an agreement with Ocean Infinity to resume the search for the wreckage of the missing Malaysia Airlines flight MH370, its transport minister said on Wednesday. The decision will enable commencement of seabed search operations in a new location estimated to cover 15,000 square […]
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Malaysia says has agreed to Ocean Infinity’s terms on search for MH370 wreckage
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KUALA LUMPUR (Reuters) – Malaysia’s has agreed to terms and conditions of an agreement with Ocean Infinity to resume the search for the wreckage of the missing Malaysia Airlines flight MH370, its transport minister said on Wednesday.
The decision will enable commencement of seabed search operations in a new location estimated to cover 15,000 square km in the southern Indian Ocean, based on a “no find, no fee” principle, minister Loke Siew Fook said in a statement. The firm will receive $70 million if the wreckage is successfully located, he said.
(Reporting by Ashley Tang; Writing by Martin Petty)