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Dec. 6, 2011 /PRNewswire-Asia-FirstCall/ --
Tri-Tech Holding Inc. (Nasdaq: TRIT), which provides turn-key water resources management, water and wastewater treatment, industrial safety and pollution control solutions, announced today that its subsidiary, Tri-Tech Infrastructure LLC (Tri-Tech U.S.), was awarded a contract to provide a seawater desalination unit for the Utility Plant of Qatar Petrochemical Co. Ltd. (QAPCO) at Mesaieed Industrial City in
Doha, Qatar. The contract is valued at
Under the terms of the contract, Tri-Tech U.S. will provide a Multiple Effect Thermocompression (MED-TC) desalination unit. The design capacity will be 240 cubic meters per hour (or 5,760 cubic meters per day). The work scope of Tri-Tech U.S. covers design, engineering, fabrication, commissioning, performance testing and on-site training for QAPCO's technical personnel. Tri-Tech U.S. expects to deliver the desalination unit by
Jim Schwartz, General Manager of Tri-Tech U.S. said, "The desalination unit will use our unique MED-TC design, will be fully automated to require minimal operator attention and will operate efficiently at low temperatures to reduce scaling."
Warren Zhao, CEO of Tri-Tech Holding, Inc. commented, "We are pleased with our first thermal seawater desalination contract in the
Middle East region, which signals another significant step in our market expansion plan. This is also our third new contract outside
China in 2011 following several municipal wastewater projects in
India and an ultrafiltration water treatment contract in
Canada. We are delighted to work with QAPCO, a leading petrochemical company producing and supplying ethylene and polyethylene from the
Middle East to the global market. With our unique technologies and products in industrial wastewater treatment and seawater desalination, we will continue to refine our competitive edge in the industrial sector and seek more such opportunities."
Phil Fan, co-president of Tri-Tech Holding, Inc., added, "
Qatar is abundant with oil and natural gas. The economy depends heavily on export of oil natural gas, and related products. Presently, the country is greatly developing petrochemicals to boost its economy.
Qatar has no natural waterways and scarcity in fresh water, so almost all potable water and industrial processing water is desalted seawater.
Qatar plans to invest
$75 billion in natural gas and petrochemical industries by 2012 and expects to upgrade its refining capacity to 18 million tons by 2016. Given the country's needs for fresh water for its people and industry demands for wastewater, water treatment and desalination, especially for use in the petrochemical sector, we will continue to enhance our marketing and sales effort in the
About Qatar Petrochemical Company Ltd.
Established in 1974, QAPCO is one of the leading producers of ethylene and low-density polyethylene (LDPE) in the Middle East Region. As a joint multinational venture, QAPCO owned by the state-owned Industrial Qatar and Total Petrochemicals of
France. QAPCO utilizes the associated and non-associated ethane feed from petroleum/natural gas production in line with the industrialization plan of the
State of Qatar. QAPCO mainly produces ethylene, LDPE and sulfur. With plants situated on the seacoast with jetty facilities, QAPCO exports its entire range of products worldwide and is well established in the global market due to its quality and reliability. QAPCO has quickened its ambitious pace to become a petrochemical supplier with a diversified product portfolio and intends to serve the customers at their doorsteps through its growing global network of self-operating offices, warehouses and agents. It has a full commercial and marketing organization in
Qatar and now has a presence in over 145 countries through an integrated global marketing and sales network that is spread across 28 self-operated offices, 6 regional warehouses and a well-established agent and distributor network.
About Tri-Tech Holding Inc.
Tri-Tech designs customized sewage treatment and odor control systems for municipalities and private sectors in
China and international markets. These systems combine software, information management systems, resource planning and local and distant networking hardware that includes sensors, control systems, programmable logic controllers, supervisory control and data acquisition systems. The company also designs systems that track natural waterway levels for drought control, monitor groundwater quality and assist the Chinese government in managing its water resources. The company is also moving into the industrial pollution control market. Tri-Tech owns 27 software copyrights and six technological patents, and employs 300 people. Please visit
http://www.tri-tech.cn for more information.
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include references to the successful completion of the project referenced herein and other statements concerning plans, objectives, goals, strategies, future events such as project payments, results of marketing efforts or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
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