Further expands distribution network and accelerates growth
SHENYANG, Liaoning, China, Aug. 2 /PRNewswire-Asia/ -- NF Energy Saving Corp. (OTC Bulletin Board: NFEC) ("NF Energy" or the "Company"), a leading energy saving services provider for China's power, petrochemical, coal, metallurgy, construction, and municipal infrastructure development industries, announced today that it has signed a contract for inlet energy-efficient flow control equipments and affiliated equipment and services with Gansu Double Win Hydropower Investment Company ("Gansu Double Win") in Gansu Province, China. The Company expects to generate US GAAP revenue of RMB 2.21 million (approximately $326,000) for the duration of the contract.
Pursuant to the contract, NF Energy will provide a series of solutions, including consulting and technical measurement in addition to its customized energy-efficient flow control equipments products to Gansu Double Win for the Gansu Heihe Baoping Hydropower Station Project. The deadline for delivering the energy-efficient flow control equipments and related equipment is March 2011 and the Company has already begun the product design work.
The Gansu Heihe Baoping Hydropower Station Project, located in Gansu province, will cost $26.5 million to build, have a fully installed electricity generation capacity of 112MW and is expected to be completed by the end of March 2012.
"This is the first contract we have signed with Gansu Double Win and we are excited about the opportunity. More importantly, the contract represents an important first step in our goal of penetrating the western region of the market in China as we seek to expand our distribution network and accelerate our growth," commented Mr. Gang Li, NF Energy's CEO.
About NF Energy Saving Corporation
NF Energy Saving Corporation (OTCBB: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, wind power, and nuclear power), water supply, and heat supply industries. The majority of revenues are from energy efficient flow control equipment and energy efficiency projects. For more information, visit http://www.nfenergy.com .
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For more information, please contact:
Company Contact:
Ms. Lihua Wang, Director & CFO
Tel: +86 24-8563-1159
Email: wlh@nfenergy.com
NF Energy Saving Corp.
Web: http://www.nfenergy.com
Investor Relations Contact:
Mr. Mark Collinson, Partner
Email: mark.collinson@ccgir.com
Tel: +1-310-954-1343
CCG Investor Relations
Web: http://www.ccgirasia.com
