BEIJING and LAS VEGAS, June 19 /Xinhua-PRNewswire-FirstCall/ -- China Holdings, Inc. (OTC Bulletin Board: CHHL), a global diversified asset holdings company and its subsidiaries, headquartered in the U.S. and engaged in multiple China-focused business activities including energy, renewable energy, resources, utilities, finance, real estate, and pharmaceuticals, today announced the Company and its controlled subsidiary, China Power, Inc., (together “the Company”) has contracted the China Electric and Design Institute (National AAA+) as the Company’s Engineering Experts Team for Engineering Consultation.
As agreed, the China Electric and Design Institute (“CEI”)(National AAA+), as a part of the Company’s engineering experts team, will provide the Company with National AAA+ Engineering Consultation Services to the Company’s 5 Biomass Energy Power Plants (5 x 50MW = 250 MW). CEI’s Engineering Services will assist and enhance the Company’s further development and consolidation with the World-Class Power -- Engineering Firms on Project Planning and Design, Project management, engineering, procurement and construction expertise (“EPC”) to build the Company’s 5 biomass power plants on a turnkey basis/solution, and with upset price guarantees and fixed construction completion timetables.
The Company has 5 biomass waste to energy power plants (250 MW). Each 50MW Power Plant has the following features:
1. Size: 1240 tons-per-day
2. Annual waste disposed: 409,200 tons
3. Construction period: 24 months
4. Operating period: 30 years
5. Power Capacity: 50 MW
6. Annual electricity produced: 411,050,000 kW-hrs
7. Annual electricity sold: 361,680,000 kW-hrs
8. Total Project Investment: 610,790,000 RMB
9. Electricity sells Price: 0.61-0.65 RMB/kW-hr
10. Fuel Delivery Price: 150-300 RMB per ton
11. Land Position: 215 MU (1MU = 667 Sq. meters)
The Company’s 5 biomass waste to energy plants (250MW) in China are expected to begin operation and production in 2010-2011, we expect:
* Annual electricity produce: 2,055,250,000 kW-hrs
* Annual electricity sold: 1,808,400,000 Kw-hrs
* Electricity sells Price: 0.61-0.65 RMB/kW-hr
* Total Investment (35% cash + 65% bank loan): 3,053,950,000 RMB
* Total Power Capacity: 250 MW
* Total Land Position: 501,000 MU (1MU = 667 Sq. meters)
The Company’s 5 biomass waste to energy plants (250MW) in China will operate by/under the Company’s wholly-own subsidiaries as following:
-- America-China Green Energy (TaiHu) Co. Ltd. for Taihu Biomass Power
Plant (50MW), AnHui Province, PR China
-- America-China Green Energy (Ontniute) Co. Ltd. for (Ontniute) Biomass
Power Plant (50MW), Inner Mongolia , PR China
-- America-China Green Energy (Hunan) Co. Ltd. for Hunan Biomass Power
Plant (50MW), Hunan Province, PR China
-- America-China Green Energy (LongHua) Co. Ltd. for LongHua Biomass
Power Plant (50MW), HeBei Province, PR China
-- America-China Green Energy (ConYang) Co. Ltd. for Taihu Biomass Power
Plant (50MW), AnHui Province, PR China
About China Electric Design and Research Institute (Since 1951)
The China Electric Design and Research Institute (“CEI”) is a China National-Top Rank Grade AAA+ Engineering Firm and a comprehensive design and research organization with engineering consultation, engineering contractor and engineering cost consultation units issued by the State, China; CEI also owns a design license for all kinds of pressure vessels issued by the State, China; and business licenses for economic and technical cooperation with foreign firms issued by the State, China.
CEI’s fields of expertise include engineering consultation, project planning & design, project contracting and construction project management, both across China and abroad, in machinery, electric power, civil construction, municipal engineering, light industry, petrochemicals, environmental protection, materials, business, shipbuilding, automobiles, logistics and design for all kinds of vessels and pipelines. CEI also holds business licenses issued by the State, China, for economic and technical cooperation with foreign firms.
The institute is entitled to prepare and manage the national design standards for building electrical installations and the technical committee TC64, as well as building electrical installations. The Chinese national committee of the IEC is also based at the institute. CEI is partially in charge of the formulation of the national design code of electrical and machinery industries. CEI also undertakes or participates in the technical evaluation and justification of major national projects such as nuclear power plants, and hydropower units for the three Gorges Station, etc.
CEI is in possession of a powerful technical strength, with more than 200 technical professionals and various specialists, in which over 80 are senior engineers, including 8 state national grade AAA+ registered architectures, 23 state national grade AAA+ registered structural engineers, 11 registered consulting engineers and 9 registered engineering cost engineers. Contributions have been made in the planning, development and engineering execution in various industries and CEI has also completed many construction projects abroad, and earned a good reputation with domestic and overseas customers.
Since 1985, CEI has completed consultation, design and EPC for more than 1000 projects INCLUDING NEAR 100 JOINT-VENTURES (FOREIGN-FUND, WORLD-BANK LOANS), CONTRACTED for 30 plus projects and developed 100 odd pieces of specialized equipment, production lines and transfer machines, including: the HuiZhou Garbage Heat Decompose Generate Electricity Project, Guangdong Province, (Capacity: 600 t/d); a 120MW Coal-Layer Gas Generate Electricity Project for SiHe Bure of Jincheng, Shanxi Province, and Shuangyushu Heating Plant, Beijing ( Heating Capacity: 4 x 116MW, Heating Area: 10,000,000 Square Meter); an Intelligent Control System Renovation project of The Mao ZeDong Memorial Hall in Tian-An-Men Square, Beijing; the Shanghai Science and Technology Center; the Scheduling Center Building of Electric Power in Jiangmen, Guangdong Province; the Technology Center of China Banknote Printing and Minting Corporation; and the Heavy Turbo-Generator Testing Facilities with 1000MW level of Harbin Electric Machinery, etc. It has established good cooperation relationships with various economic development regions in domestic and overseas customers.
The Company is developing its Renewable Energy Projects & Pipeline in Biomass Energy Power Generation Plants & Hydropower Plants in hopes of reaching a total Potential Power Capacity of 3200 MW by the year 2013 via Merger & Acquisitions (M&A), Joint-Venture Partnerships with Biomass Energy Plants/Projects & Hydropower Plants and companies, governments in China, or/and worldwide. The Company’s Advanced Renewable Energy Strategy & Plan in Hydropower Plants and Biomass Energy Power Generation Plants will have technical, social, and environmental benefits and provide investment and business opportunities in the cost-competitive Biomass Energy/hydropower capacity energy supply in China as well as around the world, which will increase the Company’s worldwide shareholders’ value in the long term.
About China Holdings, Inc.
China Holdings, Inc., is a diversified global assets holding company headquartered in the U.S. The Company and its subsidiaries engage in multiple China-focused business activities including energy, renewable energy, resources, utilities, finance, real estate and pharmaceuticals. Its objective is to achieve long-term capital appreciation through investment in companies and other entities with significant assets, investments, production activities, trading or other business interests in China, or/and worldwide, or/and which derive a significant part of their revenue from China, or/and worldwide. The Company has three wholly-owned subsidiaries: (i) China Power, Inc., (ii) China Minerals Holdings, Inc.; (iii) China Health Holdings, Inc. For the Company’s profile, please feel free to visit website: http://www.chinaholding.net/ .
About China Power, Inc.
China Power Inc., a wholly owned subsidiary of China Holdings, Inc., is a global energy & renewable energy holding company headquartered in the U.S. It focuses on Merger & Acquisition, Joint-Venture Partnership, Investment, Research & Development, Construction and Operation of energy, renewable energy, and environment protection projects in China and worldwide. The Company is developing its Renewable Energy Projects & Pipeline in Biomass Energy Projects & Hydropower Plants to reach the Total Potential Power Capacity 3200 MW by the year 2013. The Company’s Advanced Renewable Energy Strategy & Plan in Hydropower Plants and Biomass Energy Projects will have technical, social, and environmental benefits and provide investment and business activities in the cost-competitive biomass energy and hydropower capacity energy supply in China and worldwide, and also increase its worldwide shareholders’ values in the long term.
Biomass Waste as a Clean Renewable Energy
Straw is the main by-product from the harvesting of agricultural crop. In the past, straw, bush and quitch was used as a household cooking fuel. However, in recent years, as China’s agricultural economy has developed and farmers’ incomes have increased, the usage of straw, bush and quitch has decreased sharply. Farmers now prefer to use fuels, such as coal and gas, that are easier to use, have a higher energy content, and require less space for storage. An increasing amount of straw, bush and quitch is now burnt in the open in many regions in China. The burnt portion can be as much as 80% of the straw, bush and quitch produced and causes serious environmental problems. Instead of open burning, straw, bush and quitch can be used to generate electricity in an environmentally friendly manner. By 2010, China will have between 350 million tons to 370 million tons of unused straw. If this huge amount of straw is used for power generation, it would represent an additional 450 billion KwH of electricity. Biomass waste to energy is therefore a very sustainable and environmentally friendly potential energy source in China. Smoke emissions from agriculture waste open-burning and forest fires badly affect air quality. Collecting agriculture from farmers can avoid biomass burning in site, which caused not only smoke and pollutants but also risk highway transportation and air transit. Removing forestry waste like accumulated dead wood and bush, dry quitch, foliage and grass from forested areas can reduce forest fire risk. The biomass waste to energy plant will offer a rewarding application with effective and clean combustion compared to straw open-burning in site or forest fire, and will significantly reduce and eliminate smoke emitted from open burning in site and forest fires.
Forward-looking Statements
To the extent that statements in the press release are not strictly historical, including statements as to revenue projections, projections of results of specific activities or investments, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, economic performance and trends, the success of the Company’s development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward- looking, all 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, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The Company has no obligation to update these forward-looking statements. Other important factors that could cause actual results to differ materially include the following: business conditions and the amount of growth in the Company’s industry and general economy; government policies, competitive factors; ability to attract and retain personnel; the price of the Company’s stock; and the risk factors set forth from time to time in the Company’s SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. In addition, the Company disclaims any obligation to update or correct any forward-looking statements in all of the Company’s press releases to reflect events or circumstances after the date hereof.
For worldwide investor and media inquiries, please contact:
China Holdings, Inc. (Las Vegas and Beijing)
Julianna Lu, Chief Executive Officer
Tel: +86-1370-133-1287; +86-10-6586-4770
Fax: +86-10-6586-4790
Email: info@chinaholding.net; lujulianna@yahoo.com
Web: http://www.chinaholding.net
Wall Street Reporter, Inc. (New York)
Jack Marks, Chief Executive Officer
Tel: +1-212-363-2600
Web: http://www.wallstreetreporter.com
