Three Phase Project Will Process 400,000 Tons/Day and Has Initial Contract Value of 1.16B RMB
SHENZHEN, China, May 22, 2024 (GLOBE NEWSWIRE) -- CDT Environmental Technology Investment Holdings Limited (NASDAQ: CDTG) ("CDT"), a leading provider of waste treatment systems and services throughout China, announces the formation of a consortium with a wholly-owned subsidiary of a Fortune Global 500 company to jointly bid for a substantial sewage treatment plant project in Hengqin, China. CDT's partner subsidiary is a key participant in China's Belt and Road Initiative, with a multi-billion yuan asset-base and currently with an extensive portfolio of international projects underway, primarily in Asia and Africa. The total contracted value is estimated to be worth approximately 1.16 billion Yuan (USD $160 million) upon award.
The Hengqin project, which is being spearheaded by the Chinese government under an approved budget of 1.16 billion Yuan, consists of three phases, which are expected to ultimately establish a 400,000 tons/day water purification facility spanning 16.4 hectares. Phase 1 aims to achieve an initial treatment capacity of 100,000 tons/day. Construction timelines are subject to factors including site preparation, pipe network construction, and other prerequisites, and the project’s funding has been guaranteed by the local municipalities being served by the facility.
Under the consortium structure, the companies will each leverage their respective strengths by splitting project scopes, with one party potentially leading civil works while the other focuses on equipment supply and process engineering. This strategic partnership combines CDT's extensive waste treatment expertise with its partner's strong engineering capabilities and track record on mega-projects, positioning the consortium favorably to secure this major contract.
"Collaborating with such an exceptional industry leader significantly bolsters our prospects on this vital project for the region," said Yunwu Li, CDT CEO. "By joining forces, we can deliver comprehensive, world-class solutions that ensure the long-term environmental sustainability of Hengqin's waterways and ecosystem."
About CDT Environmental Technology Investment Holdings Limited
CDT, headquartered in Shenzhen, China, is a leading national player in China's waste treatment sector that designs, develops, manufactures, sells, installs, operates and maintains sewage treatment systems and provides sewage treatment services in China, and is dedicated to promoting sustainable development through innovative solutions. Founded by pioneers in waste treatment, CDT aims to advance next-generation technologies that directly address environmental challenges and promote sustainable solutions. CDT is a recognized brand in China and is committed to innovation and customer satisfaction.
CDT’s mission is to help its customers achieve their critical infrastructure objectives while enabling positive change in technological environmental protection. It collaborates with industry leaders, environmental experts, and stakeholders to develop and implement advanced waste treatment solutions. Recently listed on the Nasdaq Capital Market, CDT is a prominent player in the waste treatment market, capable of providing comprehensive solutions to diverse customer needs, and has completed more than 150 plants across China.
For more information, visit CDT’s website at https://www.cdthb.cn.
Forward Looking Statements
This press release contains forward-looking statements that are based on the beliefs and assumptions of the management of CDT and on information currently available to such management. These forward-looking statements are subject to numerous risks and uncertainties, many of which are beyond CDT’s control. Words such as “will,” “future,” “expects,” “believes,” and “intends,” or similar expressions, are intended to identify forward-looking statements. All statements, other than statements of historical fact, contained in this press release, including statements regarding future events, future financial performance, business strategy and plans, and objectives of CDT for future operations, are forward-looking statements. Although CDT does not make forward-looking statements unless it believes it has a reasonable basis for doing so, CDT cannot guarantee their accuracy. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, which may cause the actual results, levels of activity, performance or achievements of CDT and its markets to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on any forward-looking statement. CDT undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable law.
Investor and Media Contact
United States
Core IR
Peter Seltzberg, SVP Investor Relations and Corporate Advisory
investors@cdthb.cn
212-655-0924
www.CoreIR.com
