Shanghai Zhenhua Heavy Industries Co. (ZPMC), a Chinese..."> Shanghai Zhenhua Heavy Industries Co. (ZPMC), a Chinese...">

ZPMC invests in Deep Sea Port

Shanghai Zhenhua Heavy Industries Co. (ZPMC), a Chinese manufacturer of heavy lifting and handling equipment, has agreed an investment of $50m in the development of Anaklia Deep Sea Port in Georgia.

As part of the Anaklia Development Consortium (ADC), ZPMC has agreed to provide container cranes and other equipment needed to control the container terminal. It is also expected to attract Chinese financial institutions for future investments.

ZPMC is also planning to take part in the construction tenders announced by ADC.

According to the consortium, the project has attracted attention from investors as it provides the shortest route from China to Europe.

The ADC is developing the Anaklia Deep Sea Port and the Anaklia Free Industrial Zone in the Black Sea Region to breathe new life into the ancient Asia-Europe trade route.

Both developments are granted through an investment agreement provided by the Ministry of Economy and Sustainable Development of Georgia.

Image source: Anaklia Development Consortium

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