(Yicai Global) Oct. 14 -- China's Neway Valve has obtained a contract to provide Rio de Janeiro-based Petroleo Brasileiro with different types of valves for the latter's offshore oilfield project in the state of the South American country's capital city, expecting to gain USD25 million.

Neway Valve has penned a supplier contract with Modec Offshore Production Systems Singapore, a contractor of Petrobras, regarding the equipment that should be delivered by March, the Suzhou-based company said in a statement yesterday.

The deal demonstrates Neway Valve's reliable product development, design, production, and delivery capabilities, the firm added.

Neway Valve's stock price [SHA:603699] was unchanged at CNY15.95 (USD2.40) this afternoon.

Editor: Emmi Laine