Oct 30 2010
Provider of energy conservation solutions, NF Energy Saving has inked a contract with Gaizhou Gas Industry Company of the Gaizhou municipal government to invest in the Gaizhou Biomass Gas Supply Project.
The Biomass Gas Supply Project’s development is anticipated to take two years to be completed. The project, when completely operational, is likely to save 40,600 tons of coal each year and produce revenue of $14.1 million approximately. The overall project expense is likely to come around $35.5 million.
According to both the firms’ investments, they will split the revenues produced from the Gaizhou Biomass Gas Supply Project. Gaizhou Gas has contributed 37.8% of the capital for a two-year period and NF Energy has invested the remaining 62.2%. NF Energy will manage the project that incorporates the project design and development.
The CEO of NF Energy, Gang Li stated that the project is a key milestone in the campaign of China to endorse emission reductions and become more energy-efficient. Li added that he anticipated the Government of China to offer policies for promoting biomass energy development.
Source: http://www.nfenergy.com/