ReTo Eco-Solutions Signs Cooperation Agreement to Build Large Scale Industrial Park and Elderly Wellness Town in Yangbi County
ReTo Eco-Solutions (NASDAQ: RETO) announced a partnership with the People's Government of Yangbi County to develop a large-scale project covering 125 hectares, featuring an eco-friendly industrial park and an elderly wellness town. The project will use 58 hectares for industrial purposes and 67 hectares for wellness services. A geological survey is underway, with construction expected to begin in Q1 2021. This initiative aims to promote eco-tourism and enhance local healthcare facilities, leveraging government support and financial incentives.
- Partnership with Yangbi County government for project development.
- Project spans 125 hectares, integrating industrial park and wellness town.
- Construction commencement expected in Q1 2021.
- Dependence on execution and results of forward-looking statements.
- Potential risks associated with project completion and market demand.
BEIJING, Sept. 16, 2020 /PRNewswire/ -- ReTo Eco-Solutions, Inc. (the "Company," "we" or "ReTo") (NASDAQ: RETO), a one-stop, total technology solutions provider for the healthy improvement of ecological environments, today announced that it signed a cooperation agreement with the People's Government of Yangbi Yi Autonomous County. Under the agreement, in Yangbi County the Company will be responsible for the planning, design and construction of an industrial park and elderly wellness town, which development is promoted by the government.
The large scale project covers 125 hectares, with 58 hectares designated for an ecologically-friendly industrial park and 67 hectares designated for an elderly wellness town providing healthcare, and serving as a destination for travel and vacations. The geological survey for the project site is already underway, with preliminary work expected to take about four months, allowing for construction to commence in the first quarter of 2021.
Yangbi County is fast becoming an alternative eco-tourism center given its proximity to the historic, but over developed Dali City. Yangbi County is an hour's drive from the Dali Airport and is close to Cangshan, another famous Chinese tourist attraction. The natural environment and rich natural resources provide beneficial conditions for the development and operation of an elderly wellness town. The area also benefits from active government support and attractive financial incentive programs designed to encourage development, eco-tourism and environmental protections.
Mr. Li Hengfang, ReTo's Chairman and Chief Executive Officer, commented, "We greatly appreciate and value the confidence, support and partnership of the Yangbi government. This important agreement further extends our relationship, as it builds on the previous projects we have signed in Yangbi County, for solid waste treatment, and ecological restoration, among others. Our model of ecological restoration and industrial integration is unique and we believe offers compelling long-term benefits to the communities we operate in. Our sustainable projects are scalable by design and help our partners achieve a better balance of social capital and environmental protection polices to the benefit of the broader society."
About ReTo Eco-Solutions, Inc. (NASDAQ: RETO)
Founded in 1999, ReTo (NASDAQ: RETO) is a leader in ecological innovation, with sustainable environmental priorities and seeks to empower communities through its proprietary technologies, systems and solutions, which have been used to bring clean water and fertile soil to villages and cities worldwide. The Company is founded on its strategy of Technology Improves Ecology and is a full spectrum provider of products and services, ranging from the production of environmentally-friendly construction materials, environmental protection equipment and manufacturing equipment used to produce environmentally-friendly construction materials, to project consulting, design and installation for the health and improvement of ecological environments, such as ecological soil restoration, through solid waste treatment. For more information, please visit: http://en.retoeco.com
Forward-Looking Statements
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Specifically, the Company's statements regarding: 1) its ability to assist in environmental protection; and 2) its ability to complete the construction of the industrial park and elderly wellness town are forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of construction and ecological solutions in China and internationally; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and internationally and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
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SOURCE ReTo Eco-Solutions, Inc.
FAQ
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