Tianjin Port Development Holdings (HK:3382) has released an update.
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Tianjin Port Development Holdings has announced the purchase of a portal crane from Jinan Heavy Equipment Co for RMB15,880,000, a transaction that is classified as a connected transaction due to Jinan being a subsidiary of the Company’s controlling shareholder. This investment was decided after a competitive open bidding process, with Jinan Heavy Equipment Co achieving the highest score and meeting all requirements. The deal stipulates payment in installments, corresponding to different stages of the delivery and installation process.
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