BEIJING, Aug. 9, 2022
/PRNewswire/ -- ReTo Eco-Solutions, Inc. (Nasdaq: RETO) (the
"Company") today announced that the consortium led by the Company's
subsidiary REIT Ecological Technology Co., Ltd. ("REIT Eco") has
won the bid for the Longxi County Comprehensive Land Management and
Logistics Zone (Yangjia River Band) EOD Project, an ecological
oriented development project in Longxi County, Gansu Province, China(the "EOD Project").
Pursuant to the bidding documents, the EOD Project involves a
total investment of RMB1.318 billion (approximately $195.02 million). REIT Eco and Hainan Shiyuan
Tongda Private Equity Fund Management Co., Ltd. will jointly
establish a project company in Longxi County, which will be
responsible for the investment and financing, project management
and operation, and other work required to complete the EOD Project.
ReTo and the other shareholder of the project company are expected
to receive an annualized return of 12% on their total investment at
the end of the three year term of the EOD project.
The EOD Project mainly consists of three parts. First part
includes land reclamation and supporting rural road construction,
which involves a total of ten sub-projects that span 60,000 mu
(approximately 9,884 acres) of land across the Longxi County. The
second part involves land acquisition for the Logistics Zone
(Yangjia River Band). The third part includes work on land
development and municipal infrastructure construction that ensure
water and electricity supply, road and communication establishment
as well as drainage and other needed land leveling works.
Mr. Hengfang Li, Chairman and CEO of the Company commented, "The
Company has been working for many years in the fields of
comprehensive land management, soil remediation, mine ecological
restoration, solid waste utilization, sewage treatment and domestic
waste treatment. With our business growth, the Company strives to
become a provider of leading intelligent environmental and
ecological solutions and operation services in China."
About ReTo Eco-Solutions, Inc.
Founded in 1999, ReTo Eco-Solutions, Inc., through its
proprietary technologies, systems and solutions, is striving to
bring clean water and fertile soil to communities worldwide. The
Company offers a full range of products and services, ranging from
the production of environmentally-friendly construction materials,
environmental protection equipment, and manufacturing equipment
used to produce environmentally-friendly construction materials, to
project consulting, design, and installation for the improvement of
ecological environments, such as ecological soil restoration
through solid waste treatment. Through its subsidiary Hainan REIT
Mingde Investment Holding Co., Ltd. and Hainan Yile IoT Technology
Co., Ltd., a high-tech enterprise in Hainan Province, the Company provides roadside
assistance services to drivers within Hainan Province through its network of tow
providers, automotive repair services and other service providers,
and is also engaged in the design, development and sales of
customized software solutions. For more information, please visit:
http://en.retoeco.com.
Forward-Looking Statements
This press release contains forward-looking statements.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. When the Company uses words such as
"may," "will," "intend," "should," "believe," "expect,"
"anticipate," "project," "estimate," or similar expressions that do
not relate solely to historical matters, it is making
forward-looking statements. These statements are subject to
uncertainties and risks including, but not limited to, the
following: the Company's goals and strategies; the Company's future
business development such as the implementation of the EOD Project,
including its anticipated investment amount and return; product and
service demand and acceptance; changes in technology; economic
conditions; the growth of the construction industry in China; reputation and brand; the impact of
competition and pricing; government regulations; fluctuations in
general economic and business conditions in China and assumptions underlying or related to
any of the foregoing and other risks contained in reports filed by
the Company with the Securities and Exchange Commission (the
"SEC"). For these reasons, among others, investors are cautioned
not to place undue reliance upon any forward-looking statements in
this press release. Additional factors are discussed in the
Company's filings with the SEC, which are available for review at
www.sec.gov. The Company undertakes no obligation to publicly
revise these forward-looking statements to reflect events or
circumstances that arise after the date hereof.
For more information, please contact:
ReTo Eco-Solutions, Inc.
Angela Hu
Beijing Phone: +86-010-64827328
ir@retoeco.com or 310@reit.cc
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SOURCE ReTo Eco-Solutions, Inc.