12 new bridge cranes for Colombo Port

Shanghai Zhenhua Port Machinery Co, one of the world's largest manufacturers of quayside cranes, said it has secured a US $ 175 million contract from Sri Lanka's Colombo International Container Terminals Ltd (CICT).

Under the contract, Shanghai Zhenhua is to deliver 12 bridge cranes and 40 wheel cranes between 2013 and 2014, it said in a statement.

Colombo-based CICT is 85 percent owned by Hong Kong-listed Chinese port operator, China Merchants Holdings.

Shanghai Zhenhua said the bridge cranes for the Sri Lankan client will have a maximum reach of 70 metres and can accommodate the largest container ships in the world.Shanghai Zhenhua shares rose 2.07 percent to 4.93 yuan in Shanghai trading. Shanghai Daily