NEW YORK, NY -- (Marketwire) -- 05/09/11 -- China Metro-Rural Holdings Limited (NYSE Amex: CNR) (the 'Company') discusses business updates for Northeast Logistics City - Dezhou.
Northeast Logistics City - Dezhou ('NLC Dezhou'), one of CNR's two projects, located in Shandong province, Northern China, has engaged 3 contractors to commence the construction of Phase 1 development of NLC Dezhou, with total gross floor area approximately 400,000 sq meters, which is expected to complete and available for sale during the fiscal year ending March 31, 2012.
'We have short listed the contractors according to our stringent tender procedures. The purpose of the tender procedures is to engage the appropriate contractors for our construction works. These contractors are fully licensed nationwide and we will ensure that the timely completion of Phase 1 for the relocation. The Phase 1 of NLC Dezhou needs to facilitate the relocation of old markets in Dezhou, where the demand is expected to be overwhelming. NLC Dezhou will provide them a 'One-Stop Solution' in trading and it will be one of the largest trading platforms in Shandong,' Chairman Ricky Cheng states.
ABOUT CHINA METRO-RURAL HOLDINGS LIMITED
China Metro-Rural Holdings Limited is one of the leading developers and operators of large scale, integrated agricultural logistics and trade centres in Northeast China that facilitates a relationship between sellers and buyers of agricultural commodities and small appliances, provides relevant physical platform and timely marketing information and intelligence, provides a transparent and competitive market price discovery mechanism and provides infrastructure to enhance the living standards of those from the rural area.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are, by their nature, subject to risks and uncertainties. This Act provides a 'safe harbor' for forward-looking statements to encourage companies to provide prospective information about themselves so long as they identify these statements as forward-looking and provide meaningful cautionary statements identifying important factors that could cause actual results to differ from the projected results. All statements, including statements regarding industry prospects and future results of operations or financial position, made in this press release are forward looking.
Words such as 'anticipate,' 'believe,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'predict,' 'project,' 'will,' 'would' and similar expressions may identify forward-looking statements. These forward-looking statements include, without limitation, statements relating to: the Company's future performance, momentum, the Company's expansion efforts, the state of economic conditions, the Company's market and the governmental policy. These forward-looking statements are based on assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors the Company believes to be appropriate in particular circumstances. However, whether actual results and developments will meet the Company's expectations and predictions depends on a number of known and unknown risks and uncertainties and other factors, any or all of which could cause actual results, performance or achievements to differ materially from the Company's expectations, whether expressed or implied by such forward-looking statements.
China Metro-Rural Holdings Limited - Investor Relations Department
Phone: (852) 2111 3815
E-mail: Email Contact