BEIJING and LAS VEGAS, March 24 /Xinhua-PRNewswire-FirstCall/ -- China Holdings, Inc. (OTC Bulletin Board: CHHL), a global diversified asset holdings company, and its subsidiaries that engage in multiple China-focused business activities including energy, renewable energy, resources, utilities, finance, real estate, and pharmaceuticals, announced today the Company, via its wholly owned subsidiary: China Power, Inc. ("China Power"), has executed a Development and Construction Agreement (the "Construction Agreement") with Huaxian Government ("Huaxian"), Hunan Province, People's Republic of China.
The breakthrough brings the Company's total potential power capacity up to 320 MW in Alternative Energy Power Generation Plant/Projects Development Pipeline. The Company is establishing longstanding strategic relationships with other power operators, financial sponsors, suppliers, subcontractors and government that will ensure the Company's successful development of alternative power generating facilities across China.
Specifically, under the Construction Agreement, Huaxian has granted to China Power: 1) the exclusive right to develop and construct a 50 megawatt biomass energy power plant, 2) the land rights for up to 200 MU, or 133,400 square meters of land, to develop a biomass energy power plant.
The Construction Agreement also provides that Huaxian shall be responsible for securing all necessary government approvals and ensuring the supply of all required utilities, such as electricity, water, communications and roadways, and China Power shall be responsible for obtaining all required financing for the plant and operating the plant with the most advanced technology available. The construction of the plant is estimated to take approximately two years.
The Company's 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. For the Company's profile, please feel free to visit our website: http://www.chinaholding.net .
About China Holdings, Inc.
About China Power, Inc.
About Biomass Renewable Energy in China
Renewable Power Producers are involved in generating electricity power from renewable energy sources, such as Hydropower (Water), Wind Energy and Certain Waster Products such as Biomass. The demand on renewable energy power in the world continues growing and is largely driven by long-term trends towards stronger policies for environmental protection. The combustion of fossil fuels such as coal, oil and natural gas to generate electricity power emits greenhouse gases, and is acknowledged worldwide as a major source to global warming. For environmental protection, combined with an increase in electricity demand, lower-level growth of electricity supplies, and near
all-time high energy commodity prices are enticing electricity producers and providers to diversify their mix of power generation sources to include a larger share of renewable power.
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
For worldwide investor and media inquiries, please contact:
Wall Street Reporter, Inc. (New York)
Jack Marks, CEO & Publisher
Tel: +1-212-363-2600 x260
Web: http://www.WallStreetReporter.com
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
