New MH370 Search Mission To Gulp $50-million

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Enterprise Television- New MH370 Search Mission To Gulp $50-million

Malaysia has signed a deal to pay a U.S. seabed exploration firm up to $50 million if it finds the missing Malaysia Airlines aircraft MH370 in a new search area in the Southern Indian ocean. The aircraft en route from Kuala Lumpur to Beijing had disappeared in March 2014 with 239 people aboard.

Australia, China and Malaysia search mission covering an area of 120,000 sq. km in January 2017 failed with about $157 million invested. This is in spite of the fact that investigators had urged that the search be extended to a 25,000-square-km area further to the north.

Malaysian Transport Minister, Liow Tiong Lai confirmed in a news conference that a Houston-based private firm, Ocean Infinity, would search for MH370 in that 25,000-sq-km priority area on a “no-cure, no-fee” basis within a 90 day period.

“As we speak, the vessel, Seabed Constructor, is on her way to the search area, taking advantage of favorable weather conditions in the South Indian ocean,” Liow said in a statement.

“Ocean Infinity will be paid 20 million dollars if the plane is found within 5,000 sq km, 30 million dollars if it is found within 10,000 square km and 50 million dollars if it is found within an area of 25,000 square km. Beyond that area, Ocean Infinity will receive 70 million dollars”, Liow said.

Liow said Ocean Infinity’s priority is to locate the wreckage or the black box recorders, flight and cockpit recorders, or both, and present credible evidence to confirm their location.