Shanghai Zhenhua Heavy Industries (SHA:600320) signed an agreement with OCP Morocco Phosphate Group for the procurement and related matters of the bulk cargo system project at Safi Port, Morocco.

The contract is valued at about 1.46 billion yuan, with completion expected within 30 months after the effective date, according to a Dec. 31 filing with the Shanghai bourse.

Shares of the port machinery manufacturer were down 1% in recent trade.