(Yicai) Dec. 31 -- Zhenhua Heavy Industries, one of the world's largest heavy equipment manufacturers, better known as ZPMC, has secured a CNY1.5 billion (USD205 million) contract to supply bulk cargo handling equipment to Morocco's Port of Safi.

ZPMC inked a deal with OCP Group, a Moroccan state-owned phosphate rock miner and fertilizer producer, to deliver the gear within 30 months after the contract kicks in, the Shanghai-based firm announced yesterday.

The contract is expected to positively impact ZPMC's business development, strengthen its core competitiveness in the global market, and boost its future financial performance, the company noted, without disclosing further details.

OCP is a leading manufacturer of phosphate and phosphate derivatives, ranking as one of the world's largest exporters of phosphate rock and phosphoric acid. Its operations cover the entire phosphate value chain from mining to transportation and sales.

ZPMC dominates the global port machinery sector and is one of China's leading manufacturers of high-end heavy equipment, maintaining a 70 percent global market share in quayside container cranes for 26 straight years. Its net profit surged 35 percent to CNY433 million (USD59.3 million) in the nine months ended Sept. 30 from a year ago, while its revenue rose 13.7 percent to CNY25.4 billion (USD3.6 billion).

Shares of ZPMC [SHA: 600320] fell 0.8 percent to CNY3.97 (54 US cents) apiece as of lunch break in Shanghai today.

Editor: Martin Kadiev