CEEC : Press Release Source: China Evergreen Environmental Corporation
China Evergreen Announces Completion of Water Treatment Project
Wednesday September 6, 10:01 am ET
GUANGZHOU, China--(BUSINESS WIRE)--Sept. 6, 2006--China Evergreen Environmental Corp (OTCBB:CEEC - News; "the Company") today announced the completion of a 20,000 tonne/day municipal waste water treatment facility in Beijing, the capital city of the People's Republic of China ("PRC"). The project, contracted on a build-operate-transfer ("BOT") basis was completed, within cost parameters, at a total investment of $2.5 million and will generate average revenue of approximately $665,000 per annum over the total project life of 25 years. Within the next few years, it is anticipated that the facility will expand to treat 40,000 tonne/day.
In announcing completion of the project, Mr Pu Chongliang, Chairman of CEEC commented, "I am pleased to announce the completion of the Beijing project. In recent years, due to economic growth and the high levels of urbanization, municipalities in China are facing pressures to accelerate the treatment of waste water. The government's commitment to clean up the environment has made tremendous opportunities for CEEC. The Company has consolidated its position as one of China's leading environmental technology groups and stands to benefit from this growth." Mr Pu continued, "In addition, the Company currently has a pipeline of more than ten BOT, transfer-operate-transfer ("TOT") and turnkey projects and has entered into two arrangements to acquire existing BOT projects."
"Given our plans to acquire more BOT and TOT facilities in 2007, we expect these acquisitions to enhance future earnings. We are confident that our historically strong financial performance will be continued in the coming year," he concluded.
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