ZPMC inks $2.2b deal with Spanish firm

SHANGHAI: Shanghai Zhenhua Heavy Industry (ZPMC), the world's largest manufacturer of heavy-duty equipment, has inked a deal worth $2.2 billion with Spanish marine oil and gas explorer ADHK for supply of offshore engineering products yesterday.

The transaction, including 10 offshore jack-up drilling platforms, seven land drilling rigs, and two float cranes, was the largest sale contract of this kind to date in the country.

It is also the State-owned company's latest move to step up its momentum in the marine engineering business.