Tri-Tech Holding Wins $40 Million Joint Bid for Inner Mongolia Drinking Water Treatment Plant
(Nasdaq: TRIT), a premier Chinese company that provides leading turn-key
solutions in
industrial safety and the pollution control markets, announced today that it
has won a joint bid for a major drinking water treatment plant with a daily
capacity of 96,000 cubic meters for the city of Ordos in the Inner Mongolia
Autonomous Region.
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The Ordos plant is expected to be one of
treatment plants of this kind, applying both ultra-filtration and
nanofiltration technologies.
Tri-Tech jointly bid with Beijing Anguo Water Treatment Automation
Engineering Technology Co. Ltd. (“Anguo”) and Fourth Construction Company of
general contractor services. Tri-Tech and Anguo will establish a joint venture
project entity to serve as the general contractor. Tri-Tech will own 80% and
Anguo will own 20% of the joint venture. Fourth Construction Company of
Province
sub-contractor on the project.
The project will be implemented under a Build-Transfer contract. The total
budget for Phase 1 of the project will be
million
for its role in the project. The project will be completed by late 2011. After
completion, the water treatment plant will be transferred to the Dongsheng
District, Municipality of Ordos.
The Ordos water treatment plant will encompass 150,000 square meters and
will provide a daily treatment capacity of 96,000 cubic meters in Phase 1.
Tri-Tech will use the traditional process of flocculation, sediment and
conventional filtration for pre-treatment and will use ultra-filtration and
nanofiltration technologies for advanced treatment. The source water will be
groundwater. After treatment, the quality of water will meet the new national
standards for drinking water (GB5749-2006) promulgated in 2006.
According to the bid plan, the joint venture will provide the primary
pressure pump station, engineering optimization, construction, equipment
procurement, installation and commissioning, operations personnel training,
trial run and compilation of the operation and service manuals for the project.
The project contracts are currently being negotiated, and the establishment of
the joint venture company for the project will be completed shortly. Tri-Tech
expects the plant to be operational for initial trials by the end of 2011.
Tri-Tech President, Mr.
Organization (WHO), diseases related to contamination of drinking water
constitute a major burden on human health. Efforts to improve the quality of
drinking water provide significant benefits to health. The new Chinese
standards are designed to improve the drinking water safety for nearly 1.4
billion people in the following three aspects:
-- Compared to the previous standards (GB5749 - 85), the new standards
increase the water quality monitoring parameters by 71 items, from 35
to 106 in microbial aspects, disinfection, chemical aspects,
radiological aspects, and acceptability aspects.
-- The new standards unify the urban and rural drinking water quality
standards. This development is very significant because over 60% of
Chinese population live in rural areas, compared with less than half in
the West.
-- The new standards adapted the best practices and methodologies from the
WHO, European Union, United States, Japan and Russian drinking water
quality standards.
The new Chinese standards will help the country close the gap to developed
countries in terms of drinking water safety. The implementation of these new
standards is a big step toward
directly from the tap in the near future.
“In order for the entire country to fully comply with the new standards by
a
-- protect and improve the quality of source water through reclamation of
wastewater and reduction of pollutants discharged or percolated to the
natural water bodies; and
-- apply the most advanced technologies, such as membrane, disinfection,
and on-line monitoring technologies, to upgrade, retrofit or replace
the existing treatment facilities which use the traditional
technologies."
Tri-Tech CEO Mr.
largest advanced water treatment plants of this kind in
a major project for Tri-Tech. Over the past decade, Ordos has experienced
enormous economic development with its plentiful natural resources such as
coal and natural gas. GDP growth has been over 20% every year, and Ordos has
become one of the richest prefecture-level cities in
located in a desert area in Inner Mongolia, Ordos lacks water resources. In
addition to developing water recycling and water conservancy measures, the
local government has increased its spending on water infrastructure to enhance
the city’s water supply.
“We are pleased that Ordos has given our company the opportunity to
demonstrate our capabilities as a rapidly emerging leader in the use of ultra
filtration and nanofiltration technologies for water purification in
The operation of this plant will effectively ease disparities between water
supply and demand and will improve drinking water quality for Ordos residents.
With this initiative, we will continue to strengthen our presence in the
sector of water supply infrastructure. “
About Tri-Tech Holding Inc.
Tri-Tech designs customized sewage treatment and odor control systems for
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 (SCADA). 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. The company is also moving into the industrial safety and
pollution control market. Tri-Tech owns 15 software copyrights and two
technological patents and employs over 200 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 negotiation of contracts related to the project;
-- successful negotiation of joint venture agreements;
-- completion of the project referenced herein;
-- recognition of the potential revenues referenced herein;
-- timing of the 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:
Investor Contact:
Hawk Associates
Frank Hawkins
Tel: +1-305-451-1888
Email: tritech@hawkassociates.com
SOURCE Tri-Tech Holding Inc.