On February 17, China's Shanghai Zhenhua Port Machinery Co. (ZPMC) signed a contract totaling US$79.4 million with the world's largest iron ore supplier Vale for the supply of a stacker/reclaimer, a ship loader and ship unloader for the latter's pelletizing plant project in Oman in the Arabian Peninsula.
Furthermore, on February 19 Chinese heavy machinery manufacturer Northern Heavy Industries Group Co Ltd (NHI) signed a $48.7 million contract with Vale for the miner's purchase of 20 belt conveyors and a sampling system, also destined for its Omani project. The two companies also signed a memorandum for a long-term partnership. NHI includes as subsidiaries both Shenyang Heavy Machinery Co Ltd and Shenyang Mining Machinery Group.