Malaysia signs $50m deal with U.S. firm to find missing MH370

Malaysia signed a deal with an American firm yesterday to resume the search for MH370 nearly four years after the plane disappeared, with the company to receive up to $70 million if successful.

A US-based company, Ocean Infinity, has begun a second #search for Malaysian Airlines MH370, which disappeared four years ago.

"As we speak, the vessel, Seabed Constructor, is on her way to the search area, taking advantage of favourable weather conditions in the South Indian ocean", Malaysian Transport Minister Liow Tiong Lai said.

However, it seems the Malaysian government has accepted an offer from Ocean Infinity to resume the search on a "no cure, no fee" basis, meaning the company will only receive payment if they are able to find the plane.

The disappearance of Malaysia Airlines Flight 370 in March 2014 has become one of the world's most baffling aviation mysteries.

"While I am hopeful of a successful search, I'm conscious of not raising hopes for the loved ones of those on board", Darren Chester, Australia's Minister for Infrastructure and Transport, said in a statement in October. Floating debris has been found far from where MH370 is thought to have crashed, but no sign of the main debris field has been found.

A Norwegian research vessel, named Seabed Constructor, will be carrying out the search operation.

The Australian-led search mission was suspended in January previous year after investigators finished scouring a 120,000 sq km search area determined via a satellite analysis of the plane's trajectory. The amount rises gradually to a maximum of $70 million if the jet is found outside the 25,000 square kilometre search zone.

A Houston company is finalizing a contract with the Malaysian government to resume the search; Doug McKelway takes a closer look for 'Special Report'. Almost 30 fragments of MH370 have been found, three of which were in the Indian Ocean, including a 2-meter wing section. The search will start January 17.

"It is our duty to look for answers and the plane, and as of today the government has chose to go ahead with the search", he told The Malaysian Insighter.

It will be carried out by Ocean Infinity, a Texas outfit of sea-search experts using eight underwater drones.

"The ability to operate untethered independent missions allows the AUVs to go deeper and collect higher quality data, making this technology ideal for the search", the Ocean Infinity press release states.

The search was divided into a 52-day surface search covering several million square miles of ocean, and an underwater search covering 274,000 square miles, according to CBS News.