(Yicai Global) Dec. 9 -- Nantong Xingqiu Graphite’s shares surged after the Chinese maker of graphite equipment penned a USD50.5 million deal to supply an Indian petrochemical company.

Xingqiu Graphite [SHA: 688633] closed up 6.1 percent at CNY49.79 (USD7.17) a share today, after surging by as much as 10.3 percent in the morning.

Mundra Petrochem, a unit of Indian holding company Adani Enterprises, will buy graphite devices and products for its newly-built green polyvinyl chloride plant, which has an annual capacity of 1 million tons, the Nantong-based Xingqiu Graphite said late yesterday.

The deal will improve the Chinese firm’s sustainability and brand influence and positively impact its overseas market expansion, it said.

The devices will be installed in the absorption, desorption, and drying processes of the by-product hydrogen chloride production facility at Mundra Petrochem’s new plant, Xingqiu Graphite noted. The company is expected to start the delivery process 14 months later at Mundra Port, India’s largest private port, and finish deliveries in four months, it added.

Editor: Martin Kadiev