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China wins largest export contract in equipment manufacturing
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11:00, July 21, 2009

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Shanghai Zhenhua Heavy Industry Company (ZPMC) signed an export contract worth 2.2 billion USD with Spanish company ADHK on July 20. It is the largest export contract for China's equipment manufacturing industry to date.

The transaction involves 10 offshore drilling platforms, seven land drilling rigs and two floating cranes, marking the first step for ZPMC to enter the global marine engineering market.

ZPMC is the world's largest port machinery maker. Its major product, container machinery, has been exported to 73 countries and regions, accounting for over 78 percent of the global market.

Statistics show that the world's total reserves of undersea crude oil are between 140 billion and 200 billion tons. From 2009 to 2013, there will be 109 offshore crude oil and gas projects under exploration. The world's offshore crude oil and gas investment will total around 189 billion USD, including about 90 billion USD in floating production platforms. There will be about 150 orders for platforms, with investment in four major types of drilling platforms at around 30 billion USD.

In June this year, Shanghai set the goal of enlarging the scale of the municipality's marine engineering equipment industry to 150 billion yuan by 2012.

By People's Daily Online


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