Shanghai Zhenhua Heavy Industries (ZPMC) will pump 419.9 million (USD 62.8 million) worth into COSCO shares according to the signed share subscription agreement.
ZPMC and COSCO plan to cooperate in the port machinery, maritime engineering as well as services and logistics.
Specifically, ZPMC intends to enhance business with various terminal companies.
Also, COSCO has it’s global industrial influence on terminal companies around the globe that will be the second benefit for ZPMC connected with the decision of investment.
COSCO Shipping Holdings, which is principally engaged in container shipping and related businesses, is a subsidiary of China Ocean Shipping (Group) Company (COSCO), the largest integrated shipping company in China.