Business
ZK International Wins a $75 million bid in "High Quality Drinking Water Household Project"
WENZHOU, China, Aug. 9, 2022 /PRNewswire/ -- ZK International Group Co., Ltd. (Nasdaq: ZKIN) ("ZKIN", "ZK International" or the "Company"), is pleased to
About this update from Zk International Group Co., Ltd
[{"type":"text","content":"WENZHOU, China, Aug. 9, 2022 /PRNewswire/ -- ZK International Group Co., Ltd. (Nasdaq: ZKIN) (\"ZKIN\", \"ZK International\" or the \"Company\"), is pleased to announce that ZK International continues its success with procuring projects throughout China. Recently, ZK International has won a $75 million bid in the project known as the \"Shenzhen Water Market Project\", where companies bided to be the supplier of the stainless-steel pipes and fittings supplier of \"High Quality Drinking Water Household Project\" (Phase 7 and 8) and \"Community Water Supply Network Renovation Project\" (phase 7 and 8).\nThe total investment of these projects is approximately around US$600 million, of which stainless steel pipes and fittings account for 17% of the total investment being made of about US$75 Million dollars. ZK International anticipates it will supply approximately 40% of the projects, giving ZK approximately US$30 million dollars in sales.\nMr. Jiancong Huang, Chairman and CEO of ZK International stated, \"Despite many adverse factors such as the COVID-19 pandemic shut-downs in China, soaring nickel price, supply chain challenges, and the fluctuations in the capital markets, our management team and all of our employees at ZKIN remain committed to overcome these challenges. The success of winning these bids and enduring the various stages of the bidding process is a testament to our excellent sales and marketing team who continue to bring profit to ZKIN despite these challenges.\"\nMr. Jiancong Huang, contines, \"ZK International's team will continue to strive to provide customers with competitive, safe and reliable piping system products and related solutions and services in China and internationally. The Company is targeting the global construction water supply markets, gas, home decoration, firefighting, HVAC, siphon drainage and other fields. In the future, ZK International expects to win additional bids on various projects in China. We look forward to sharing these good news in the near future.\"\nAbout ZK International Group Co., Ltd.\nZK International Group Co., Ltd. is a China-based engineering company building and investing in innovative technologies for the modern world. With a focus on designing and implementing next-generation solutions through industrial, environmental and software engineering, ZKIN owns 28 patents, 21 tr...