Contracts Cover Eight Projects in Four Provinces
BEIJING, Oct. 26 /PRNewswire-Asia-FirstCall/ -- Tri-Tech Holding Inc.
(Nasdaq: TRIT), a premier Chinese company that engineers, manages and monitors
municipal sewer systems, natural waterways and other Chinese water resources,
announced today that it has received contracts valued at approximately
$960,000 for eight mountain torrent forecast pilot projects from the Flood
Control and Drought Relief Bureaus of Hebei, Anhui, Qinghai and Guizhou
provinces.
In October 2006, the Chinese government approved the Mountain Torrent
Forecast Plan proposed by the Ministry of Water Resources and the Ministry for
Environmental Protection. Accordingly, in 2009, the Chinese government
allocated RMB200 million (approximately US$29 million) to fund projects in 103
pilot counties, which are frequently devastated by mountain torrents.
In June 2009, the China State Flood Control and Drought Relief
Headquarters initiated pilot projects for the 103 counties. Tri-Tech won the
bids in seven counties and one municipality in Hebei, Anhui, Qinghai and
Guizhou provinces.
In Qianxi County in Hebei Province and in Tongren County and the
municipality of Xining in Qinghai Province, Tri-Tech will provide integrated
engineering services and non-structural measures, including establishment of
monitoring and early warning systems, mountain torrent forecast systems, flood
control preplans and education for local residents on mountain torrent
prevention. In Yuexi County in Anhui Province and Kaiyang, Puding, Wangmo and
Jinsha counties in Guizhou Province, Tri-Tech will provide a mountain torrent
information collection system and early warning systems as well as
hydrological monitoring equipment, installation, debugging and after-sale
services.
The data terminal for the hydrological monitoring station system in all
eight projects will use Tri-Tech's patented YY-RTU-2000 Telemetry Unit.
Tri-Tech expects to complete the projects before the end of 2010.
Mr. Warren Zhao, CEO of Tri-Tech Holding, said, "With an area of 23,411
square kilometers benefiting a population of 4.34 million, these eight
projects are among the initial pilot contracts awarded for mountain torrent
forecast. We are excited that we successfully secured these eight contracts,
which represent a 16% market share, as only half of the 103 counties have
invited public bids so far. With increased investment and support from the
Chinese government for mountain torrent forecast, we expect to continue
building our business in support of this important sector."
About Tri-Tech Holding Inc.
Tri-Tech designs customized sewage treatment and odor control systems for
China's municipalities and its larger cities. 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 government in managing its water
resources. Tri-tech owns seven software copyrights and two technological
patents and employs 108 people. Please visit http://www.tri-tech.cn for more
information.
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Tri-Tech Holding Inc. has based these forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995. Forward-
looking statements include statements concerning plans, objectives, goals,
strategies, future events or performance, 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.
For more information, please contact:
Investors Contact:
Hawk Associates
Susan Zhou
Tel: +1-305-451-1888
Email: tritech@hawkassociates.com
SOURCE Tri-Tech Holding Inc.
Investors, Susan Zhou of Hawk Associates, +1-305-451-1888,
tritech@hawkassociates.com
