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ZPMC inks $580m in port equipment contracts with PSA and TIL

Shanghai Zhenhua Heavy Industries (ZPMC), China’s largest port equipment manufacturer, bagged orders from Singapore-based PSA and Terminal Investments Ltd Group.

The contracts were signed last week during the second Belt and Road Forum held in the Chinese capital Beijing.

The Chinese crane manufacturer inked a $500m contract with PSA that includes 28 quay cranes and 78 rubber-tyred gantry RTGs.

ZPMC is also setting up research branch in Singapore with PSA for a long-term globally cooperation between the two parties. The co-operation with PSA will not be limited to the regions of China and Singapore, we will explore cooperation opportunities in other countries, said Zhu Lianyu, chairman of ZPMC.

Read more: Shanghai Zhenhua Heavy Industries expands footprint in Fujian

Meanwhile ZPMC also signed a contract with MSC port operating company TIL that covers eight quay cranes, worth $80m in total. It is the first deal between ZPMC and TIL for its port in Israel.

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