Machinery maker ZPMC wins $400m order
By Zhong Nan (chinadaily.com.cn) Updated: 2014-02-18 08:55Shanghai Zhenhua Heavy Industries Co Ltd, China's largest heavy machinery maker also known as ZPMC, has won a $400 million order to build two high specification jack-up drilling rigs.
According to ZPMC's filing, the new orders were placed by Lovanda Offshore Ltd and Lovansing Offshore Ltd. However, the Chinese company didn't say where the companies are from or which group they belong to. There is no information available about the background of the companies online.
The rigs will be capable of drilling in 400 feet of deep water and be for use in the North Sea. They will be delivered in 2016 and 2017.
The order comes with two options for additional rigs. ZPMC's clients will have six month to decide whether they want to place new orders for the same type of product.
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