Tianjin Port Development's (HKG:3382) subsidiary Yuanhang International agreed to purchase four sets of portal cranes from Jinan Heavy Equipment for 71.9 million yuan, expected to be funded by the group's internal resources, a Thursday Hong Kong bourse filing said.

Yuanhang International seeks to improve overall operating efficiency and cargo handling operational capacity through the purchase.

Euroasia International, another subsidiary of Tianjin, engaged Jinan Heavy Equipment for the modification of three container quay cranes and the provision of related services for 19.2 million yuan, according to a separate disclosure.

Euroasia International intends to increase its berth handling capacity for large container ships through the renovation project.