After its subsidiary was awarded a big project, ReTo Eco-Solutions Inc. (NASD: RETO) saw a rise of 11.22% at $0.4560 in pre-market trading hours on the most recent Friday.
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What project did the RETO subsidiary succeed with?
ReTo Eco-Solutions (RETO) revealed last week that a group led by its subsidiary REIT Ecological Technology Co., Ltd. (“REITOrdos”) had been selected to design and run the Ordos waste disposal reprocessing and land rehabilitative services ecology-oriented project (the “EOD Project”), which is focused on safeguarding the ecology of China’s Yellow River Basin.
The EOD Project in Ordos will be designed, developed, and run by a partnership between REIT Ordos, CCCC First Highway Engineering Group Co., and Hainan Shiyuan Tongda Private Equity Fund Management Co., according to the bidding materials. In the EOD Project, two coal gangue recycling facilities are being built.
REIT Ordos is in charge of the building of the plants, the transportation and processing of the gangue, and the recycling of the gangue leftovers into products like bricks and nutritious soil conditioner. Three years are anticipated for the building phase, while fifteen years are anticipated for operation.
The EOD Project is anticipated to process 13 million tons of coal gangue yearly, yielding 650,000 tons of low-quality coal, refractory bricks, and various ceramic granules. This is stated in the bidding materials. Additionally, low-intensity sand and soil improvement materials are anticipated to be made using coal gangue. By properly recycling coal gangue, these soil improvement materials are anticipated to be employed to restore 150,000 mu of salty, sandy, and degraded land.
RETO will use its experience and technological know-how as a member of the Ordos EOD Project team to advance creative environmental protection in the Yellow River Basin. As part of RETO’s initiatives to support the sustainable growth of the “green” sector, the EOD Project will be successful in recycling coal gangue and turning the leftovers into ecological resources.
How will RETO be differentiating itself?
According to ReTo Eco-Solutions (RETO), the EOD Project will contribute to the creation of a network of ecological environments in the Yellow River Basin that will support the growth of modern agriculture and offer the Ordos a variety of job options. The EOD project concept has the ability to reinvigorate rural regions in Ordos and contribute to the overall sustainable development of economic and social prosperity in the area, and RETO has demonstrated its dedication to conserving the natural environment.
