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Weekly UpdatesChina Industrial Waste Management, Inc. (OTC:CIWT (BULLETIN) BOARD: CIWT), Dalton, China, a PRC-based industrial waste processor and provider of environmental protection, pollution treatment and waste management design services, has announced that its 90% owned subsidiary, Dalian Dongtai Industrial Waste Treatment, Co., Ltd. has received a national subsidy of RMB 10 million (approximately $1,464,129) for capacity expansion to complete a "Centralized Hazardous Waste Treatment Facility" (the "Expansion Project") in Dalian, Liaoning Province, China.
As previously disclosed, Dalian Dongtai Industrial Waste Treatment, Co., Ltd. started the construction of the Expansion Project in July 2008. The total investment for the Expansion Project was estimated at RMB 110 million (about US $16 million), 30 percent of which (approximately $4,831,625) will be subsidized by the central government. RMB 10 million has been released to the company and the rest will be disbursed in accordance with construction progress. The construction of the incineration plant which has an annual capacity of 9,000 tons is under construction and the company completed the incineration workshop in January 2009. The new incinerator is specially equipped with a tail gas cleansing system and an online monitoring system in order to ensure all emissions are in compliance with environmental standards. In addition, the Expansion Project will include capacity expansion of a hazardous waste landfill, an industrial effluent treatment system and an organic solvent recycling system. The Expansion Project will also be equipped with a new research & development center.
"We are pleased to receive the national subsidy for our capacity expansion in Dalian," said Mr. Jinqing Dong, the company's Chief Executive Officer. "Once we fully ramp-up, the Expansion Project will provide twice the capacity as that of the current plant, and the Expansion Project will centralize hazardous waste treatment processes, increasing our operational efficiency."
The current Expansion Project is one of fifty-five hazardous waste treatment centers subsidized by the central government and one of two centers in Liaoning province. Management expects to complete the construction of the remaining storage and processing facilities during the fourth quarter of 2009.
About China Industrial Waste Management, Inc.
China Industrial Waste Management, Inc. is engaged in the collection, treatment, disposal and recycling of industrial wastes principally in Dalian and surrounding areas in Liaoning Province, People's Republic of China through its 90%-owned subsidiary Dalian Dongtai Industrial Waste Treatment Co., Ltd. ("Dongtai") and other indirect subsidiaries. Dongtai treats, disposes of and/or recycles many types of industrial wastes, and recycled waste products used by customers as raw material to produce chemical and metallurgy products. In addition, Dongtai treats or disposes of industrial waste through incineration, burial or water treatment, and provides environmental protection services, technology consultation, pollution treatment services, waste management design processing services, waste disposal solutions, waste transportation services, onsite waste management services, and environmental pollution remediation services.
For more information, visit http://www.chinaciwt.com or call 646/213-1909.
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