Shanghai Hydro-Power Equipment Co Ltd announced yesterday it has won a 330 million yuan (US.76 million) contract to manufacture turbines for China's second-largest hydro power project next to the Three Gorges Project.

　　The company reached an agreement with the Longtan Hydro Power Development Co Ltd to design and produce turbines of seven 700-megawatt power generators for the Longtan Project in south China's Guangxi Province.

　　"The successful bidding of the project is significant for our future development, as it shows our company is a fully qualified supplier for future mega hydro power projects in China," said Shen Fuqiang, deputy president of the company.

　　Founded in 1994, the 50-50 joint venture between Vioith Siemens Hydro Power Generation and Shanghai Electric Corp has grabbed about 20 percent of the domestic turbine market with 29 major contracts.

　　Shanghai Hydro-Power also produces key components for the Three Gorges Project, including two runners and one generator stator frame which were delivered last year.

　　The Shanghai venture is one of the two major manufacturing facilities of Germany-based Voith Siemens, the world's leading hydro power equipment supplier.