Press releases

ZhongDe Waste Technology AG announces signing of Xinjiang BOT project

Hamburg, April 7, 2008

 

100 tons/day waste incineration plant

Extended concession period compared to Changzhi non-binding letters of intent

Strategy to expand the value chain into operating of waste incineration plants on track

Agreements for three additional BOT projects in negotiation

 

ZhongDe Waste Technology AG [Ticker ZEF] announced today that ZhongDe Group ("ZhongDe") has signed binding agreements for a BOT project ("Build - Operate -Transfer") in Xinjiang Shanxi with a daily waste disposal capacity of 100 tons. With this contract ZhongDe replaces the initially planned Changzhi project due to negotiated better terms: compared with the Changzhi project, the concession period has been extended from 20 to 30 years. ZhongDe thereby consequently carries forward the implementation of its key strategy to expand the value chain into the operation of waste incineration plants and thus to generate recurring revenues and to strengthen its market position in the segment of municipal waste disposal.

 

Xinjiang is a city with approx. 400.000 inhabitants located in the south of Shanxi province. The waste disposal fee, which amounts to RMB 70 (€ 6.39 at the current rate of exchange) per ton will be paid on a monthly basis directly by the local municipalities in charge and adjusted to the inflation index annually. After the contracted operating time, the City of Xinjiang will take over the plant. The estimated total investment cost amounts to approximately € 1.82 million.

 

The major portion of the proceeds generated by the Initial Public Offering in July 2007 in the Prime Standard of the Frankfurt Stock Exchange will be used to operate waste incinerators for and with municipalities in conjunction with the production and marketing of by-products such as steam, hot water, bricks as well as electricity. Prior to the Initial Public Offering ZhongDe had signed six non-binding letters of intent for the operation of BOT projects. Binding agreements for a BOT project in Xihua Henan and a BOO project ("Build - Operate - Own") in Feicheng Shandong had been signed in August 2007. Further negotiations about the three additional BOT projects in Guilin, Jian´ou and Wuxiang are underway and on schedule.

 

 

About ZhongDe Group

ZhongDe Group designs, manufactures and installs pyrolytic, grate and rotary kiln waste incinerators for the disposal of solid medical, municipal and industrial (including hazardous) waste. Since 1996, ZhongDe Group has installed approximately 180 waste incinerators in about 13 provinces, and more than 120 waste incinerators in the last three financial years alone. Its waste incinerators are principally constructed for operators of medical disposal centres in the hospital and healthcare industry, as well as for small and midsized Chinese cities in developed areas of the People's Republic of China. ZhongDe Group is one of the leading suppliers of small and midsized solid waste incinerators in China, supplying state-of-the-art products. The trading of the shares (German Securities Identification Number ZDWT01, ISIN DE000ZDWT018 and ticker symbol ZEF) commenced on the Prime Standard segment of the Frankfurt Stock Exchange on July 6, 2007.

 

 

This document constitutes neither an offer to sell nor a solicitation to buy securities of ZhongDe Waste Technology AG. The securities have already been sold.

 

This document is not an offer of securities for sale in the United States of America. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. The shares in ZhongDe Waste Technology AG have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and are not being and will not be offered or sold in the United States of America.

 

This document is directed at and/or for distribution in the U.K. only to (i) persons who have professional experience in matters relating to investments falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (ii) high net worth entities falling within article 49(2)(a) to (d) of the Order (all such persons being together referred to as "relevant persons"). This document is directed only at relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. Any investment or investment activity to which this document relates is available only to relevant persons and will be engaged in only with relevant persons.

 

 

Contact

Matthias Link
Managing Director
Citigate Dewe Rogerson GmbH
Goethestraße 26-28
60313 Frankfurt am Main
Tel: 0049-69 90 500-150
Fax: 0049-69 90 500-102
E-Mail: matthias.link@citigatedr.de
Internet: www.citigatedr.de

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