WUHAN, China, Oct. 7 /PRNewswire-FirstCall/ -- HTDS http://www.landstarcorp.com/ (LDSR) China based operating subsidiary Hubei Chuguan Industrial Co (Chuguan) is providing this update to the previous news release of August 25, where amongst other things Mr. Wang Tao, chief marketing officer for the South China market for Chuguan was invited by Xintiandi Environmental Protection Engineering Co., Ltd in Dongguan City, Guangdong Province for a cooperation initiative. The following is an update of that release and new developments.
The cooperation initiative stems from an earlier Dongguan Municipal Government mandate. Namely, on or about August 10, Dongguan Municipal Government formally released the policy that all gas stations and oil depots under Dongguan city, should carry out the program of oil and gas recovery treatment and transformation. There are approximately 297 gas stations and eight oil tanks in the city, the city''s renovation project will cost totally about 100 million Yuan RMB. (Approximately 14.2 million USD contract) source http://www.xe.com/. In order to top into this opportunity and take advantage of favourable municipal policies, Xintiandi Environmental Protection Engineering Co expressed their strong interests in the unique technology of oil and gas recovery and brand awareness of Hubei Chuguan Industrial Co. Xintiandi has agreed to work with Chugan to co-explore this multi million USD oil and gas recovery market in Dongguan. At present, the bilateral cooperation negotiations are well under way.
Following the previous press release where Chugan''s disclosed its infrastructure capacities, Chugan''s customers and clients expressed more confidence in Chuguan''s capacities to concurrently handle large scale projects placing Chugaun on top of other competitors while bidding for large projects.
Mr. Lee Congtang, CEO, Chairman of LDSR and Chugain said, "This is a significant contract and a significant development have taken place since the last announcement. The contracts of this size and magnitude have a lot of moving parts and the details can be excruciating. If I can summarize it, I would say so far so good as we plug along in the process. My confidence is high that we will be awarded the contract based on our capabilities, capacity and sheet infrastructure to meet the demands of the customer."
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Land Star Inc.
CONTACT: For any investor relations matters, please contact
http://www.minamargroup.net/helpdesk; Investor Relations Department, (302) 357-9915
(IR), 1st Level Support Retail Clients General Inquiry, http://www.minamargroup.net/
(IR); For (M&A) and Corporate Matters, 1-800-365-4331, http://www.minamargroup.com/