BEIJING, January 25, 2012 /PRNewswire-Asia-FirstCall/ -- Tri-Tech Holding Inc. (Nasdaq: TRIT), which provides turn-key water resources management, water and wastewater treatment, industrial safety and pollution control solutions, announced today that it secured a Build-Transfer contract for the construction of a wastewater treatment plant and a wastewater pipeline network in Dawangdian Industrial Park in Xushui County, Hebei Province. The aggregate budget of the projects is totaled at approximately $7.9 million (50 million RMB).
The project contract will be implemented under a Build-Transfer model. Upon the completion, the company will transfer the ownership of the project to Xushui Government for commission.
Under the terms of the contract, the company will construct a wastewater treatment plant in an industrial park in Dawangdian Township, Xushui County using Orbal Oxidation Ditch technology. The plant will have a daily treatment capacity of 15,000 cubic meters, and treated water discharged from the treatment plant will comply with Class 1A standards, as defined in the National Discharge Standard of Pollutants for Urban Wastewater Treatment Plants. As part of the contract, the company will build 15.3 kilometers of wastewater pipeline network in the industrial park.
The company will participate in civil construction, equipment procurement, installation, treatment process calibration, operator training and trial operation for the plant and wastewater pipelines. Both projects are scheduled to be completed by November 2012.
Mr. Gavin Cheng, President of Tri-Tech Holding commented, "Upon commission, the wastewater treatment system will improve the industrial park area's environment, which should make the industrial park more attractive to investors and businesses considering relocation. The project treatment mix will be approximately 70% industrial wastewater and 30% sewage. We expect that the implementation of the project will enhance our visibility in China's industrial wastewater treatment sector. We expect more opportunities to compete in this sector and market region."
Mr. Warren Zhao, CEO of Tri-Tech Holding said, "We are delighted that Tri-Tech continues its steady performance in China's wastewater treatment sector following several international water and wastewater projects awarded in previous months. The Hebei-Tianjin area is quite familiar to Tri-Tech since we penetrated the traditional municipal wastewater sector at an early stage. With years of project implementation experience, we have evolved from simply providing construction services for wastewater plants to being capable of implementing complete municipal wastewater treatment facility systems such as treatment plants, wastewater piping and pump stations. The extended capability will further ensure a competitive edge in the market. In October 2011, The Proposals on Key Issues of Environment Protection issued by the State Council emphasized the Chinese government will extend sewage collection network coverage and improve construction of urban sewage collection networks to improve waste control. According to the 12th Five-Year Plan on Environmental Protection recently issued by the State Council, industrial wastewater control projects have been included in a list of eight key environmental protection projects to be implemented during the 12th Five-Year Plan period. During the period, we expect significant market opportunity for industrial wastewater treatment in industrial parks as these parks promote low-carbon concepts and comply with regulatory pollution control standards. With these opportunities in mind, Tri-Tech will focus on wastewater pipelining and industrial wastewater treatment in order to participate in building China's wastewater treatment infrastructure."
About Dawangdian Industrial Park
With a designed area of 28 square kilometers, the industrial park is primarily developed for industries including automobiles and parts, and manufacturing of alternative energy and energy saving equipment. Currently, eight enterprises, including two central government-owned companies and two public companies, settled in the park. The park features 27 projects and a total investment of 49.7 billion RMB, which are either in operation, or under construction, or in the process of obtaining construction approval. By the end of the 12th Five- Year Plan period, the production value of the industrial park is expected to exceed 100 billion RMB. Because the industrial park emphasizes both project construction and environment sustainability, it continues to increase spending in infrastructure of the park, and the construction of wastewater collection and treatment facilities are proceeding as planned.
About Tri-Tech Holding Inc.
Tri-Tech designs customized sewage treatment and odor control systems for municipalities and private sectors in China and international markets. These systems combine software, information management systems, resource planning and local and distant networking hardware that includes sensors, control systems, programmable logic controllers, supervisory control and data acquisition systems. The company also designs systems that track natural waterway levels for drought control, monitor groundwater quality and assist the Chinese government in managing its water resources. The company is also moving into the industrial pollution control market. Tri-Tech owns 27 software copyrights and six technological patents, and employs 300 people. Please visit http://www.tri-tech.cn for more information.
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This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include references to the successful completion of and payment for the projects referenced herein and other statements concerning plans, objectives, goals, strategies, future events such as project payments, results of marketing efforts or performance, future government initiatives, expected actions by third parties and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
Investor Relations Contact:
Mr. Craig T. Stewart
North Coast Advisors Inc.
Rochester, N.Y.
+1 (585) 388-3340
cstewart@ncainc.com
