PETALING JAYA: Integrated offshore crane services provider and fabricator Handal Resources Bhd has agreed to work with a Chinese advanced high performance composite material company to research and develop solutions for the oil and gas market.
In a statement earlier, the company announced that it has entered into a collaboration agreement with Harbin Jingwei Advanced Composite Material and Engineering Corp (HJACME), the China-based subsidiary of Shanghai EB Pipeline Engineering Ltd (SHEB).
Handal and SHEB’s work will focus on utilising advanced composite materials.
Handal will be responsible to develop and promote the solutions and manage the projects, whereas SHEB will provide their technical expertise in advanced material engineering.
HJACME is a leading integrated service provider of deep-sea oil storage system and has vast expertise in the research and development, as well as production and installation of high performance composite materials. Its parent, SHEB, is primarily involved in flexible pipeline engineering and offshore installation.
The collaboration is in line with China’s “One Belt, One Road” policy and involves independent research and development of hi-tech composite materials, which is an advanced technology of strategic importance in the oil and gas as well as other industries.
The agreement commenced on Nov 28, 2017 and will remain valid unless mutually terminated.
Handal Resources COO and executive director Zahari Hamzah said the agreement showcases the flexibility of its business model, which enables it to move deeper into the value chain and sharpen its expertise beyond its core activity of providing offshore crane services.
Read the original story on: TheSunDaily.My