Business
Taoping Announces Major Cooperation with the Mengla County of Yunan Province; Expected Project Value of US$82.5 Million by 2027
SHENZHEN, China, Feb. 10, 2025 /PRNewswire/ -- Taoping Inc. (Nasdaq: TAOP, the "Company"), a provider of innovative smart cloud platform services and
About this update from Taoping Inc.
[{"type":"text","content":"SHENZHEN, China, Feb. 10, 2025 /PRNewswire/ -- Taoping Inc. (Nasdaq: TAOP, the \"Company\"), a provider of innovative smart cloud platform services and solutions, today revealed that it has entered into a non-binding strategic cooperation framework agreement with the Government of Mengla County, Yunnan Province. The agreement outlines plans for extensive collaboration in the modern agricultural industry, with the objective of boosting regional economic growth.\n\nAccording to the agreement, the project aims to invest in developing an agricultural planting base in Mengla County, Xishuangbanna Prefecture, Yunnan Province. Over the next three years, the partners plan to expand the base to 3,500 acres, with a total investment of RMB 200 million (US$27.5 million). By 2027, the project is expected to generate an annual output value of RMB 600 million (US$82.5 million).\nThe cooperation aims to combine the strengths of each party to establish a model for the growth of the modern agricultural sector. To meet its ambitious goals, the project will incorporate advanced technologies from the Company, such as the Internet of Things, big data, and artificial intelligence, to enhance production and operational efficiency. The Company was chosen for this significant partnership due to its strong brand and reliable platform capabilities, which can boost the Mengla County region's competitiveness and brand value. The Government of Mengla County will offer substantial support in areas like land transfers, advanced technology, and resource allocation. They will also assist businesses in fostering partnerships with neighboring countries and help them scale operations through land transfer and efficient management.\nMr. Jianghuai Lin, Chairman and CEO of the Company, said: \"Mengla County boasts exceptional natural resources and an advantageous location, making it ideal for the development, implementation, and long-term operation of a modern agricultural system. We are excited to combine resources from all involved parties to create a comprehensive modern agricultural industrial system. This will include advanced agricultural planting, the efficient application of agricultural technologies, the incubation of high-tech enterprises, and agricultural ecological tourism.\" \n\"This agreement is one of the largest in the Company's history, highlighting th...