Organic Recycling Technologies Inc. Announces Signed
Cooperative Joint Venture Contract to Build a Waste Conversion Facility in
Chongqing, China. The Estimated Dollar Value of the First Project is $8 - $10
Million
Released on = October 7, 2005, 9:55 am
Press Release Author = Organic Recycling Technologies Inc.
Industry = Environment
Press Release Summary = Burnaby, BC - October 05, 2005 - Organic Recycling
Technologies Inc. (OTC BB: ORCY) (“Organic Recycling”) is pleased to announce that
it has signed a cooperative joint venture contract with Chongqing Jinxibeina
Complete Equipment Imp & Exp. Co., a subsidiary of the Chongqing International
Economic Technology Cooperative Co. (the “Chongqing Group”) to build, own, operate
and transfer a waste conversion facility in Chongqing, China. The estimated dollar
value of the first project is $8 - $10 million.
Press Release Body = The Chongqing Group is contracted to obtain the land, all
permits, 25 year guaranteed waste contracts to ensure facility profitability and a
financial guarantee to purchase the facility from Organic Recycling at cost plus 20%
following three months operations.
The Chongqing Group is a comprehensive state-owned enterprise group that engages in
foreign economic & technical cooperation and trading activities in China and abroad.
The Chongqing Group has annual revenues exceeding $200 million per year and been
operating for over 18 years, with branches on every continent and over 30 countries.
The Chongqing Group is involved in contracting construction projects, project
supervision, labor services provision and training, merchandise import and export,
industrial manufacturing covering auto parts, garment and food processing. Its
domestic businesses and joint ventures now penetrate into high-tech products
manufacturing as well as tourism.
The Chongqing area of China has a population exceeding 30 million people requiring
over 100 additional waste conversion facilities. The Chongqing Group will build
each additional site in the Chongqing area for Organic Recycling under the same
guaranteed terms and conditions as this first project.
Danny Huang, a partner in Waste Consultants Limited, Organic Recycling’s agent for
China, stated, “With the signed agreement for Chongqing, China completed, all
parties will move to quickly complete the first facility providing Organic Recycling
Technologies a presence in China and will guarantee 100 additional sites.”
Ralph Petruzzo, President of Organic Recycling stated, “Now this allows the project
to move forward to the next stage of the first facility in China and this will
quickly generate new multi-million dollar opportunities throughout Chongqing and
China for Organic Recycling and its shareholders.”
About Organic Recycling Technologies Inc.
Given the demand for recycling technology, Organic Recycling Technologies Inc. is
ready for the boundless market opportunities for recycling technologies, waste
management technologies and organic recycling technologies. The world is buried in
mountains of waste and the world needs solutions. Organic Recycling Technologies
Inc. is incorporating the best technologies in the waste and recycling industries,
so it has the best solutions today and tomorrow.
Forward-Looking and Cautionary Statements:
Certain statements contained herein, including, without limitation, statements
containing the words “believes”, “intends” and other words of similar import,
constitute “forward-looking statements” within the meaning of Section 27A of
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Such forward-looking statements involve known and unknown
risks, uncertainties and other factors, which may cause the actual results,
performance or achievements of Organic Recycling Technologies Inc. to be materially
different from any future results, performance or achievements expressed or implied
by such forward-looking statements. Given these uncertainties, readers are cautioned
not to place undue reliance on such forward-looking statements. Organic Recycling
Technologies Inc. disclaims any obligation to update or to announce publicly the
results of any revision of the forward-looking statements contained or incorporated
by reference herein to reflect future events or developments.
On behalf of the Board of Directors of Organic Recycling Technologies Inc.
“Ralph Petruzzo”
Ralph Petruzzo, President
Web Site = http://www.OrtechTeam.com
Contact Details = Please Contact:
Organic Recycling Technologies Inc.
Ralph Petruzzo, President
Toll Free: 877-419-0430
Web: www.ORTechTeam.com
Email: MediaRelations@OrtechTeam.com
Printer
Friendly Format
Back
to previous page...
Back
to home page...
Submit
your press releases...
|