ZhongDe Waste Technology AG / Contract
23.01.2009
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Press Release
ZhongDe Waste Technology AG signs contract with Zhucheng Baoyuan New Energy
Power Generation Co., Ltd
Contract value of approx. 30M (268,350,000 RMB, 100 EUR = 887.62 RMB)
500 tons/day waste incinerator plant with electricity generation for
Zhucheng
Strategic milestone to expand into large-scale incineration market
Hamburg, 23 January 2009 ZhongDe Waste Technology AG [Ticker ZEF]
announced today that its operational subsidiary Fujian Fengquan
Environmental Protection Holding Co. Ltd ZhongDe Group ('ZhongDe') has
signed a contract with Zhucheng Baoyuan New Energy Power Generation Co.,
Ltd on the construction of a 500 tons/day waste incinerator plant with
electricity generation. The project is located in the southwest of Wanghe
Tou Village, Mizhou Street, Zhucheng City, Shandong Province. The total
contract volume amounts to approx. 30 million. ZhongDe expects the
project to be completed by the end of 2010. The 'percentage of
completion'-method is being used for this major contract, which means that
the Zhucheng project will contribute to the revenues and earnings of 2009
and 2010. This is another large engineering, procurement and construction
project (EPC project) after the Datong project.
The Zhucheng project adopts the grate furnace incineration technology. Twoincineration lines with a daily treatment capacity of 250 tons will be
installed. The plant treats a maximum of 500 tons of domestic waste daily
with an annual 8,000 hours of equipment utilization. The total waste
treatment volume of the whole plant is 165,000 tons per year. Each
incineration line is supported with semi-dry flue-gas purifying treatment.
The steam produced from the waste heat boiler will be utilized for the
power generation of a 9MW turbo generator unit. The electric power
generated by the unit will be partly used for production and supply of the
plant. The remaining generated electricity will be incorporated into the
urban power grid.
Zefeng Chen, founder and CEO of ZhongDe Waste Technology AG, comments:
'With the rapid development and progress achieved in technology since the
IPO, ZhongDe is now capable of not only manufacturing large scale
incinerators but also building complete sets of incineration plants with
electricity generation. By signing this contract we have successfully
started to implement ZhongDes key strategy of expanding into the
large-scale incineration market with the objective of strengthening its
market position in the segment of municipal waste disposal.'
About ZhongDe Group:
ZhongDe Group designs, manufactures and installs pyrolytic, grate and
rotary kiln waste incinerators
for the disposal of solid municipal, industrial (including hazardous) and
medical waste, as well as complete sets of incineration plants with
electricity generation.
Since 1996, ZhongDe Group has installed approximately 190 waste
incinerators in about 13 provinces, and more than 130 waste incinerators in
the last three financial years alone. Its waste incinerators are
principally constructed for small and midsized Chinese cities in developed
areas of the Peoples Republic of China, as well as for operators of
medical disposal centres in the hospital and healthcare industry. ZhongDe
Group is one of the leading suppliers of small and midsized solid waste
incinerators in China, supplying state-of-the-art products.
Contact
Sylvia Faber
CEO
Citigate Dewe Rogerson GmbH
Goethestraße 26-28
60313 Frankfurt am Main
Tel: 0049-69 90 500-100
Fax: 0049-69 90 500-101
E-Mail: sylvia.faber@citigatedr.de
Internet: www.citigatedr.de
DGAP 23.01.2009
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Language: English
Issuer: ZhongDe Waste Technology AG
Stadthausbrücke 1-3
20355 Hamburg
Deutschland
Phone: +49 40 37644 745
Fax: +49 40 37644 500
E-mail: cornelia.dieker@zhongdetech.de
Internet: www.zhongdetech.de
ISIN: DE000ZDWT018
WKN: ZDWT01
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart
End of News DGAP News-Service
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DGAP-News: ZhongDe Waste Technology AG: ZhongDe Waste Technology AG signs contract with Zhucheng Baoyuan New Energy Power Generation Co., Ltd
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