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July 12, 2012 /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 it has secured contracts for flash flood early warning and small river hydrologic monitoring projects in ten provinces and municipalities in
China. The projects total approximately
$8.06 million (approximately
RMB 50.96 million).
According to the contracts signed by Tri-Tech's affiliate, Beijing Yanyu Water Tech Co. Ltd., the company will establish and retrofit flash flood monitoring and forecasting systems for multiple districts, counties and cities in
Gansu provinces and
Beijing. Each system includes an information collection module, an early warning module and an information dissemination platform. In addition to the flash flood systems, the company will also implement small river hydrological monitoring systems for Heze region in
Shandong Province. The scope of this project includes construction and upgrade of automatic collection and communication systems for rainfall and water level information. The company will be involved in the production and procurement of equipment, software development, installation and troubleshooting of the systems and the provision of technical training to customers. These projects are scheduled for completion at different times from the end of July through the end of
Warren Zhao, Joint CEO of Tri-Tech Holding Inc., commented, "Since the second quarter, we have continued to promote flash flood early warning systems and have worked hard to implement the projects we have secured. These market expansion strategies for our water resources management business have grown this business segment to record levels for our company. All of our previously awarded flash flood monitoring projects are now over 70% completed. Of these projects, we have substantially completed the project in
Hunan and are currently conducting system troubleshooting and anticipate the customer's acceptance following this stage. In the meanwhile, we are actively pursuing new project opportunities as scheduled. In addition, we are initiating a market survey on the National Water Resources Monitoring Capacity Construction Program and Irrigation Information System Construction Program to help the company optimize its revenue portfolio and business model for the water resources segment. We are also pursuing strategic collaboration with leading international water information technology and service providers in emerging water conservancy fields. "