A-Power Energy (APWR) Gets $16 Million Construction Contract From Tieling Cement

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10:46:23 am on December 3, 2009

A-Power Energy (APWR) is surging off the lows following its earnings report this morning and there is more good news to report for APWR shareholders.  The company has announced that it has signed a $16 million contract with Tieling Cement to act as the general contractor for a waste to heat power generation facility in Tieling City.  The project will begin this month and is expected to be completed within the next 6 months.

Jinxiang Lu, CEO of A-Power Generation, commented, “A-Power has enjoyed an excellent working relationship with Tiexin Cement since 2007. Previously completed cement waste-heat power generation projects for Tiexin Cement have been fully operational and connected to the grid. Tiexin has been satisfied with the quality of our work in the past.”

Shares of APWR are currently up about 4%, but 10% off the morning lows.

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