Tri-Tech (TRIT) Secures $20M Contract for Expansion of Water Treatment Plant in China

QualityStocks would like to highlight Tri-Tech (NASDAQ: TRIT). The company designs customized sewage treatment and odor control systems for China's municipalities and its larger cities. 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.

In the company’s news yesterday,

Tri-Tech announced it has been awarded the contract for the expansion phase of the water treatment plant for the City of Ordos, valued at approximately $20 million. This phase is a follow up to the initial contract the company received in 2010.

Tri-Tech co-president Gavin Cheng noted that adverse winter weather conditions slowed the company’s construction efforts for the initial phase, which are now 70 percent complete. Cheng said the company’s ability to utilize its technology and project managers to combat the conditions earned the company the expansion phase of the project.

“We were very pleased to be awarded the expansion contract after our ongoing success with the initial phase construction … Following the completion of the initial and expansion phases, the Ordos plant will be the world’s largest treatment facility that uses ultra filtration and nano-filtration membrane technology …,” Tri-Tech CEO Warren Zhao stated in the press release.

The terms of the contract of expansion phase call for Tri-Tech to provide services of design optimization, procurement, installation, startup and commissioning, owner’s personnel training, operation and maintenance manual preparation of water treatment plant, and other services as needed.

China is ridden with heavily polluted water sources, which has prompted the Chinese government to issue new drinking water standards to be effective 2012.

“National policy places great emphasis on upgrading China’s water infrastructure. We believe this policy presents a huge market opportunity for our company. The Ordos water treatment plant project will be a highly visible example of our ability to execute large projects, deploy market resources and capital and implement innovative technology,” Zhao stated.

Tri-Tech co-president Phil Fan emphasized the importance of improved wastewater treatment to meet new drinking water standards in China and abroad.

“There is an urgent need for conventional water plants to be upgraded and to enhance wastewater treatment and reduce pollutant emissions, gradually reaching new drinking water standards in the country. Tri-Tech is continuously researching new and advanced membrane technology, disinfection technology, online monitoring technology, zero emission technologies and seawater utilization technology both in China and abroad,” Fan stated. “We have begun earnest cooperation with the manufacturers and research institutions and we are continuously driving the implementation of the latest and most sophisticated water and wastewater treatment technology for domestic municipal and industrial applications.”

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