Shanghai Zhenhua Heavy Industries (600320.SH) signed a major contract worth 14.61 billion yuan with OCP, the Moroccan phosphate group.

Shanghai Zhenhua Heavy Industries (600320.SH) announced that recently the company has reached consensus with OCP Morocco Phosphate Group on the procurement and related matters of the Safi Port bulk cargo system project in Morocco. The two parties have signed a contract agreement with a total amount of approximately 1.461 billion yuan. The contract is scheduled to be completed in 30 months after coming into effect. The signing of this contract is a routine operational contract that is of significant positive importance to the company's business development, in line with the company's development direction, and will help enhance the company's core competitiveness. The performance of the contract is expected to have a positive impact on the company's future financial condition and operating results in the upcoming accounting year.