Tri-Tech Holding Awarded $2M Contract for Wastewater Treatment Plant
15 December 2009 - 1:00AM
PR Newswire (US)
BEIJING, Dec. 14 /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 water resources, announced today that it has received a $2
million Build-Transfer-Operate (BTO) contract for a wastewater
treatment plant for the Dongli Economic Development Area in Tianjin
Municipality in Northern China. Tri-Tech will build the treatment
plant and transfer the ownership to Dongli Economic Development
Area once construction is completed. This is the first Tri-Tech use
of the BTO model, which is similar to the Build-Operate-Transfer
(BOT) model except that transfer to the public owner takes place
once construction is completed, rather than at the end of the
franchise period. For the project, Tri-Tech will use its Membrane
Bioreactor (MBR) process. MBR is an efficient new wastewater
treatment technology that combines biological treatment with
membrane separation processes. Reclaimed wastewater discharged from
the treatment plant will meet Class 1A standards as per the
National Discharge Standard of Pollutants for Municipal Wastewater
Treatment Plant. The reclaimed wastewater is suitable for various
reuses including roadway dust control, landscape irrigation and
toilet flushing. The contract covers wastewater treatment plant
construction engineering and design, process equipment procurement,
installation, construction management and start-up. The Dongli
wastewater treatment plant will have a daily capacity of 3,000
tons. Tri-Tech expects to complete the construction by the end of
February 2010. Tri-Tech CEO Warren Zhao said, "This is the first
time that we are using the BTO model in a public-private
partnership to help our municipal clients tackle sewage discharge
problems. We will continue to demonstrate both technical and
financial capabilities to successfully compete for municipal
wastewater treatment projects. The Dongli Economic Development Area
is only 14 kilometers from downtown Tianjin, encompassing an area
of 7.2 square kilometers. Since it was established in 1992, Dongli
has attracted 150 manufacturing enterprises from 20 countries. The
construction of this wastewater treatment plant is designed to ease
the shortage of Dongli's existing wastewater treatment capacity,
improve the ecological environment in Dongli and further attract
more investment opportunities for Dongli." 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. An
online investor kit including a company profile, press releases,
current price quotes, stock charts and other valuable information
for investors is available at
http://www.hawkassociates.com/profile/trit.cfm . To subscribe to
future releases via e-mail alert, visit
http://www.hawkassociates.com/about/alert/ . 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 the
project referenced herein and other 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 Phone: +1-305-451-1888 Email: DATASOURCE: Tri-Tech
Holding Inc. CONTACT: Investors Contact: Hawk Associates, Susan
Zhou, +1-305-451-1888, Web site:
http://www.hawkassociates.com/about/alert
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