Published: Sat, January 13, 2018
World | By Melba Underwood

Find MH370? Earn $70 Million

Find MH370? Earn $70 Million

The Malaysian government agreed on Wednesday to pay US seabed exploration firm Ocean Infinity Ltd. from $20 to $70 million on condition that it finds the missing Malaysia Airlines flight MH370 within 90 days.

Malaysian Airlines flight 370 went missing as it passed over the southern Indian Ocean on 8 March 2014.

The Houston-based firm, Ocean Infinity, will spend 90 days searching the Southern Indian Ocean.

The company will get paid US$20 million (RM82 million) for debris found within the 5,000 sq km primary search area, US$30 million for the 10,000 sq km secondary search area and US$50 million for the 10,000 sq km tertiary search area.

Support for a memorial site in Perth for the victims of missing Malaysia Airlines flight MH370 has all but collapsed among the relatives of the 239 passengers and crew.

"The previous search took 21/2 years to cover 120,000sqkm", Professor Pattiaratchi said.

The MH370 debris could furnish clues to events on board before the aircraft crashed.

The Norwegian vessel Seabed Constructor will carry out the exploration.

If the company finds the Boeing 777, the amount they are paid will depend on where it was located, said Liow. Australia, which was leading the underwater search for the plane, called off the hunt last January.

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The agreement was signed by the Malaysian government and Ocean Infinity CEO Oliver Plunkett at a ceremony in Kuala Lumpur, reported CNN.

"We can finish the first 25,000 square kilometres in three to four weeks".

Voice 370 also urged the government to be open to similar "no cure, no fee" search proposals by other parties should Ocean Infinity's search mission prove to be unsuccessful.

A next-of-kin, Shin Kok Chau who was present today thanked the Malaysian government for not losing hope of finding the missing jet.

He said there is an 85 per cent chance that the wreckage would be found within the new search area.

The governments of Malaysia, China and Australia spent roughly $157 million over the course of a almost three year search with little success outside of washed up debris believed to have come from the aircraft.

The search will be undertaken by a fleet of eight autonomous underwater drones "packed with sensors", whose data from the seabed is then analyzed on board the surface vessel, Plunkett said.

Investigators believe MH370 headed south over the Indian Ocean for about six hours before plummeting into the water.

Their daughter had planned to celebrate her fifth birthday on March 14, 2014 with her father, but he never returned.

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