BEIJING, July 6, 2012 /PR Newswire/ --
Tri-Tech Holding Inc. (Nasdaq: TRIT), which provides turn-key water resources management, water and wastewater treatment, industrial safety and pollution control solutions, announced today that it was awarded a water conservation irrigation contract for a forage cultivation project undertaken by the Water Resources Management Administration of Buerjin County in Xinjiang Uygur Autonomous Region. The contract amount totals $1.3 million.
According to the contract, Tri-Tech will provide the Township of Yelaman with four sets of water conservation irrigation systems for a new irrigation area covering 625 hectares. The irrigation systems will be used for development and cultivation of forage land. Tri-Tech will be involved in the civil construction, procurement of pipes and fittings, installation and trial operation of the systems. We expect the project to be completed by the middle of November 2012.
Mr. Gavin Cheng, the Joint CEO of Tri-Tech Holding said: 'The Yelaman water conservation irrigation project is another successful initiative in the agricultural water resources infrastructure field in Xinjiang following the Yelaman BOOST municipal infrastructure project we received last year. The project will expand Yelaman's forage cultivation area and improve the efficiency of agricultural irrigation, which will benefit the development of animal farming in the area.
According to the Chinese agricultural sustainable development programs, RMB 20 billion will be spent on funding high-efficiency water conservation irrigation initiatives during the 12th Five Year Plan period. North China will prioritize development of efficient water conservation irrigation with typical models such as drip irrigation, sprinkler irrigation and micro-irrigation, which we believe will develop rapidly. As a water conservancy solution provider, Tri-Tech will continue to leverage its advantages to pursue more business in the sector.'
About Tri-Tech Holding Inc.
Tri-Tech designs customized sewage treatment and odor control systems for municipalities and private sectors in China and international markets. 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 Chinese government in managing its water resources. The company is also moving into the industrial pollution control market. Tri-Tech owns 39 software copyrights and 11 product patents, and employs 390 people. Please visit http://www.tri-tech.cn for more information.
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This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include references to the successful completion of and payment for the projects referenced herein and other statements concerning plans, objectives, goals, strategies, future events such as project payments, results of marketing efforts or performance, future government initiatives, expected actions by third parties 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.
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SOURCE Tri-Tech Holding Inc.