Shanghai Zhenhua Heavy Industries Co (ZMPC) has received an order worth SGD240m ($167m) to build 22 container cranes for port operator PSA Singapore.

The cranes will be delivered in batches starting from 2017, according to a regulatory filing by ZMPC to the Shanghai Stock Exchange.

“The confirmation of the latest contract will not only bring about positive earnings, it will also benefit the company in terms of maintaining its global market share on port equipment and raise the influence of our branding,” ZPMC said in the statement.