He said the primary mission of Ocean Infinity is to identify the location of the wreckage or debris field and or both of the flight recorders; black box and Flight Data Recorder (FDR).
Malaysian Minister of Transport, Liow Tiong Lai, center, speaks during the signing ceremony of the MH370 missing plane search operations between Malaysian government and Ocean Infinity Limited in Putrajaya, Malaysia, Wednesday, Jan. 10, 2018.
Ocean Infinity Chief Executive Oliver Plunkett said the search vessel Seabed Constuctor, which left the South African port of Durban last week, is expected to reach the southern Indian Ocean by January 17 to begin the hunt. The report said this analysis complemented work detailed in a 2016 review and identified an area of less than 25,000 square kilometers (9,650 square miles) - roughly the size of the USA state of Vermont - that "has the highest likelihood of containing MH370".
Ocean Infinity will now resume the search, according to an email sent to the MH Family Support Centre by the government. A total of 20 million USA dollars will be paid if the plane was found within the first 5,000 square km scoured.
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The Cabinet also decided to make changes relating to competent authority for examining FDI proposals from countries of concern. However, FII/FPI purchases were restricted to secondary market only.
United States company Ocean Inifinity will search for the missing plane on a "no find, no fee" basis. He said his firm will have 60 days to continue the search beyond the designated area.
"It is my hope that we will find the answer that we seek for almost four years and bring some closure to this unfortunate incident", Malaysian Transport Minister Liow Tiong Lai said at a press conference outside Kuala Lumpur.
In the initial search for the plane, a 52-day surface search covered an area of several million square kilometers (square miles) in the Indian Ocean west of Australia, before an underwater search mapped 710,000 square kilometers (274,000 square miles) of seabed at depths of up to 6,000 meters (20,000 feet).
Malaysia's government said Wednesday it will pay US company Ocean Infinity up to $70 million if it can find the wreckage or black boxes of Malaysia Airlines Flight 370 within three months.
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An unnamed fire official said the blaze started in the cooling vents with no danger inside the building. Someone called from their phone to report the incident to the fire department.
"The basis of the offer from Ocean Infinity is based on 'no cure, no fee'".
The mystery of MH370 has gripped the world since its disappearance on March 8, 2014.
The Norwegian research vessel known as the Seabed Constructor is already on its way to the area identified by the Australian Transport Safety Bureau and Commonwealth Scientific and Industrial Research Organisation (CSIRO) as the most likely crash site.
Investigators believe MH370 headed south over the Indian Ocean for about six hours before plummeting into the water.
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We are taking this case seriously and have already formed two teams one under the Mudigere sub inspector and Mudigere inspector. The Superintendent of Police of Chickmagalur said that under IPC 306 a case was booked in Mudigere town police station.
The plane is thought to have been diverted thousands of kilometres off course out over the southern Indian Ocean before crashing off the coast of Western Australia.