Tri-Tech Holdings (TRIT) Wins $32 Million Water Treatment Plant Contract

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08:29:01 am on October 7, 2010

Tri-Tech Holdings (TRIT) continues its breakout move this morning and it has a catalyst.  The company has won a $30 million contract for a drinking water treatment plant in Inner Mongolia.  Expect many more of these kinds of contracts in China in the coming years.  TRIT is one of the best ways to play the clean drinking water issues in China.  This particular plant is expected to be one of China’s largest drinking water treatment plants using both ultra and nano filtration.

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TRIT will establish a joint venture with Anguo to serve as the general contractor and will control 80% of the venture which equates to about $32 million in revenues.  The project is expected to be completed by late next year.

Tri-Tech President, Mr. Phil Fan said, "According to the World Health 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 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 China’s goal of making potable water available directly from the tap in the near future.”

Tri-Tech CEO Warren Zhao commented as well: "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 China. 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. "

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