Tri-Tech Holding Awarded $2 M Contract for Wastewater Treatment Plant
Beijing, China – December 14, 2009 – 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.
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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 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.