BEIJING, and LAS VEGAS, March 11 /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 has executed its 4th development contract with the exclusive right to develop and construct a Biomass Energy Power Generation Plant with a power capacity of 50 MW through its controlled subsidiary "China Power, Inc." with the local Ongniute Government (“Ongniute”) , Inner Mongolia Province, People’s Republic of China.
The breakthrough brings the Company’s total potential power capacity to 270 MW in Alternative Energy Power Generation Plant/Projects (Biomass Energy Projects 200MW (4 X 50MW) and Hydropower Projects 54 MW - 72 MW).
Under the Construction Agreement, Ongniute has agreed to provide China Power with the land rights for up to 200 MU, or 133,400 square meters of land, to develop a biomass energy power plant, together with an additional 500,000 MU, or 333,500,000 square meters, of land, rich in straw resources to support the power plant. Conversely, China Power has committed to invest up to 580 million Yuan, or approximately $81,586,000, towards the development of the power plant, or 56,000 Yuan, or approximately $7,877, for every 667 square meters of land provided by Ongniute. Legally protected by the Chinese Central Government’s biomas energy policies: Ongniute has guaranteed (i) the financing for up to 65% of the total 580 million Yuan of the power plant through a local bank at a preferred interest rate, (ii) that 100% of the power generated by the Biomass Energy plant shall be purchased by the China State Grid at a purchase price of between 0.60 and 0.65 Yuan, or approximately $0.09 and $0.08, per kilowatt, and that the Biomass Energy Power Generation Plant/Project (Power Capacity: 50MW) has the total expected annual power generating capacity of 400 million kilowatt-hour (kWh) and (iii) the payment of 13.2 million Yuan, or approximately $1,856,797, back to China Power once construction of the power plant is completed. Ongniute will also guarantee 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. In addition, Ongniute has agreed to ensure that the plant is not subject to income taxes for its first three years of operation and then subject to a tax rate of no more than 12.5% for the following three years.
The Company is establishing longstanding strategic relationships with other power operators, financial sponsors, suppliers, subcontractors and governmental representatives that will ensure the Company’s successful development of renewable power generating facilities.
The Company is developing its Renewable Energy Projects & Pipeline in Biomass Energy Power Generation Plants/Projects & 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 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 enhance the technical, social, and environmental benefits of Biomass Energy /hydropower 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 worldwide shareholders’ value in the long term.
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.
China Holdings, Inc. (NASD OTC Bulletin Board: CHHL), is a diversified global assets holding company. 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., and (ii) China Minerals Holdings, Inc.; (iii) China Health Holdings, Inc.
For the Company’s profile, please feel free to via website: http://www.chinaholding.net .
About China Power, Inc.
China Power Inc., a controlled subsidiary of China Holdings, Inc., is a global energy & renewable energy holding corporation, which focuses on Merger & Acquisition, Joint-Venture Partnership, Investment, Research & Development, Construction and Operation of energy, and 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 enhance the 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.
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.
Biomass Renewable Energy: straw to energy. Straw is renewable energy and is a part of nature’s plants. The carbon on the inside of the straw can change to organic carbon through absorption of carbon dioxide (CO2) from the atmosphere during photosynthesis. The biomass energy project, as an alternative and renewable energy source, is fully supported by the central government and local governments of China. The development and construction of the renewable energy project is protected by The Renewable Energy Law, created on January 1, 2006, by the People Congress of China. The Chinese central government has set a series of tax exemption/deduction regulations to encourage the construction of renewable energy projects. The National Reform and Development Committee implements the purchase electricity price for renewable energy. It ensures the standard purchase electricity price is 0.25 Yuan/kWh addition base on the local average grid connection price (0.25-0.44 Yuan/kWh). In addition, there is a supervision system to ensure full purchase and payment.
For worldwide investor and media inquiries, please contact:
Wall Street Reporter Magazine (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; Tel: +86-10-6586-4770; Fax: +86-10-6586-4790;
Email: info@chinaholding.net; lujulianna@yahoo.com
Web: http://www.chinaholding.net
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.
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