SHENYANG, China, 10 July, 2014 /PRNewswire/ -- NF Energy Saving Corporation (NFEC) ("NF Energy" or the Company), a leading energy saving service solutions provider for China's power, petrochemical, coal, metallurgy, construction and municipal infrastructure development industries, announced today that it has recently signed a $0.28 million contract with Guangxi Baise Baikuang Power Co., Ltd. to supply its valve products to the supercritical thermal power generation unit located in Xinshan Aluminum Industrial Park. Delivery is expected to begin in November 2014.
The client is a subsidiary of Guangxi Baise Baikuang Group, a state-owned enterprise in diversified mining and related business including coal, manganese ore, bauxite, power generation, electrolytic aluminum, electrolytic manganese, coal mining machine building, logistics and coal mine engineering technical services. The client invested in late 2013 to develop the Xinshan aluminum industrial demonstration park centering on the coal-power-aluminum integration project to answer the government's call for energy conservation and emissions reduction. Equipped with advanced supercritical electricity generating technology, it is expect that the power plant will provide electricity to produce 300,000 tons of molten aluminum per year upon commencement.
Although the order represents a small percentage in the project investment, says Mr. Gang Li, CEO of NFEC, this contract has opened a strategic new market for our Company in future. Our Company will continue to expand its market share in the off-grid electricity-for-self-use power plant construction business owned by
China's large state-owned industrial enterprises, in order to lay a solid foundation for the future development of the Company.
About NF Energy Saving CorporationNF Energy Saving Corporation (NASDAQ: NFEC) is a China-based provider of integrated energy conservation solutions utilizing energy-saving equipment, technical services and energy management re-engineering project operations to provide energy saving services to clients. The Company's customers are mainly concentrated in the electrical generation (large-scale thermal power generation, hydroelectric power, and nuclear power), water supply, and heat supply industries. The majority of revenues are from energy efficient flow control solutions including equipment and energy efficiency project services. For more information, visit http://www.nfenergy.com. Safe Harbor Statement The statements contained herein that are not historical facts are considered "forward-looking statements." Such forward-looking statements may be identified by, among other things, the use of forward-looking terminology such as "believes,""expects,""may,""will," "should," or "anticipates" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. In particular, statements regarding the efficacy of investment in research and development are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including, but not limited to, the effect of political, economic, and market conditions and geopolitical events; legislative and regulatory changes that affect our business; the availability of funds and working capital; the actions and initiatives of current and potential competitors; investor sentiment; and our reputation. We do not undertake any responsibility to publicly release any revisions to these forward-looking statements to take into account events or circumstances that occur after the date of this report. Additionally, we do not undertake any responsibility to update you on the occurrence of any unanticipated events, which may cause actual results to differ from those expressed or implied by any forward-looking statements. The factors discussed herein are expressed from time to time in our filings with the Securities and Exchange Commission available at http://www.sec.gov . SOURCE NF Energy Saving Corporation
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