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Subsidiary of ReTo Eco-Solutions Wins Bid of Ordos Yellow River Basin Solid Waste Recycling and Land Rehabilitation EOD Project
BEIJING, Dec. 21, 2022 /PRNewswire/ -- ReTo Eco-Solutions, Inc. (Nasdaq: RETO) (the "Company") today announced that a consortium comprised of its subsidiary,
About this update from Reto Eco-solutions, Inc.
[{"type":"text","content":"BEIJING, Dec. 21, 2022 /PRNewswire/ -- ReTo Eco-Solutions, Inc. (Nasdaq: RETO) (the \"Company\") today announced that a consortium comprised of its subsidiary, REIT Ecological Technology Co., Ltd. (\"REITOrdos\"), has won the bid to design and operate Ordos solid waste recycling and land rehabilitation ecology-oriented project (the \"EOD Project\"), which focuses on the ecological protection of Yellow River Basin in China.\nAccording to the bidding documents, REIT Ordos, CCCC First Highway Engineering Group Co. and Hainan Shiyuan Tongda Private Equity Fund Management Co. will join forces to design, develop and operate the EOD Project in Ordos.\nThe EOD Project involves construction of two coal gangue recycling plants, with REIT Ordos being responsible for plant construction, gangue transportation and processing, and the transformation of gangue residues into recycled materials, such as block bricks and nutrient soil conditioner. The construction period is expected to last for three years, with an estimated operation period of 15 years.\nAs outlined in the bidding documents, the EOD Project is expected to process 13 million tons of coal gangue annually, producing 650,000 tons of low-quality coal, refractory bricks and other ceramic granules each year. It is also expected to use coal gangue to produce soil improvement materials and low-intensity sand. These soil improvement materials are expected to be used to rehabilitate 150,000 mu of saline, sandy and degraded land, effectively recycling coal gangue.\nMr. Hengfang Li, Chairman and CEO of the Company, commented, \"We are honored to be part of the team for the Ordos EOD Project and will utilize our expertise and technological know-how to promote innovative environmental protection at the Yellow River Basin.\"\n\"We believe the EOD Project will be effective in recycling coal gangue and transforming the residues into ecological resources, as part of our efforts to promote sustainable development of the 'green' industry.\"\n\"We hope that the EOD Project will help build an ecological environment network at the Yellow River Basin that promotes the development of modern agriculture and provides diverse employment opportunities in Ordos. Our company is committed to protecting the ecological environment and continues to explore the potential of the EOD project model to revitalize rural ...