(Shanghai, August 3rd, 2020) Recently ,Hilong Petroleum Offshore Engineering Co., Ltd, a subsidiary of Hilong Group,has entered into a crane ship service contract with the Xiamen Branch of CCCC Third Harbor Engineering Co., Ltd.. The total consideration under the Contract is approximately RMB 233 million.
According to this contract,Hilong will provide the leasing of a crane ship and vessel operation related services for an offshore wind power construction project. The Contract has a term of approximately 17 months ending on 31 December 2021.
"The signing of this contract marks Hilong Offshore Engineering's successful entry into the offshore wind power engineering market," said Wang Tao, CEO of Hilong Group. "Despite the current downturn in oil prices, we believe that this project will have a positive impact on Hilong's operation performance and cash flow for this year as well as the next."
CCCC Third Harbor Engineering Co., Ltd. is a state-owned construction enterprise of China.It is primarily engaged in domestic and foreign large and medium-sized port and wharf projects, highways and bridge tunnel projects and civil engineering.
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