A marine robotics company has unveiled plans to launch a new search for the missing Malaysia Airlines flight MH370.

Transport Minister Anthony Loke confirmed Ocean Infinity will convene a meeting with him to present the plan.

The discussion will include establishing a new search location.

Ocean Infinity conducted separate searches in the Indian Ocean in 2017.

The search for the MH370 has been ongoing for ages

Loke said: “We will wait for their proposal and presentation, after which the MOT will need to prepare a Cabinet paper to obtain approval to commit to it.

“It is important to understand the principle of ‘no cure, no pay’.

“If they fail to locate the aircraft, no payment will be made.

“However, if there is a commitment (agreement) and if they succeed, compensation is required.

The Malaysian Airlines plane went missing in 2014FLICKR

“This involves financial implications and requires Cabinet approval.”

Loke gave assurances Malaysia’s Cabinet will look to secure approval for a new contract with Ocean Infinity.

Prime Minister Datuk Seri Anwar Ibrahim also reiterated Malaysia’s commitment to reopening the investigation.

There were 239 people onboard the flight when it disappeared on March 8 in 2014.

Police officers inspect metallic debris found on a beach in the search for MH370GETTY

The international passenger flight disappeared from radar en route from Kuala Lumpur to Beijing.

None of the 227 passengers or 12 crew members on board have ever been found.

The disappearance has led to a number of theories about what actually happened to the aircraft.

Australia has also played a leading role in the search for the MH370, with 21 aircraft and 19 ships.

The search was conducted across a 12,000-square-mile corridor of water known as the seventh arc and cost £120million by the time it was called off by Canberra, Beijing and Kuala Lumpur.