Benzinga | Jul 23, 2020 08:41AM EDT

ReTo Eco-Solutions Secures Major Port Contract Valued At RMB5M

BEIJING, July 23, 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 it secured a contract from the Jiangsu Xinyi Port Terminal valued at RMB 5 million, of which RMB 3 million has been received.

The Jiangsu Xinyi Port Terminal is a major hub for commerce in China and internationally. The Jiangsu Xinyi Port currently allows 2,000-ton ships to reach Xinyi directly from the Beijing-Hangzhou Canal, with an annual handling capacity of 4.5 million tons. A nearly complete expansion project is adding an additional 800 acres with 19 2,000-ton berths. The Jiangsu Xinyi Port is also transforming the combined road, rail and water transportation system to better optimize logistics and reduce costs, in order to build development and economic advantages.

In order to complete the contract effectively and efficiently, ReTo will use its proprietary equipment, technologies and processes to convert solid waste into high-quality ground paving material. ReTo has begun installation of its proprietary equipment at the terminal. Upon quality control testing, ReTo will perform ongoing operating and management services.

Mr. Li Hengfang, ReTo's Chairman and Chief Executive Officer, commented, "This is another major win for ReTo, a further validation of our total solutions business and evidence of the overall market growth we are seeing. We continue to benefit from the forward-thinking vision of Government officials and business leaders across China. They are prioritizing sustainable infrastructure projects as a way to promote a healthier environment and to build competitive enhancements for years to come. Our strategy of Technology Improves Ecology and our unique ability to provide a 'one-stop' solution for the entire process of solid waste reduction, recycling, and mitigation in the field of ecological and environmental protection in China, gives us a powerful competitive advantage as we pursue an increasing number of opportunities to drive our growth."