CDT Environmental Technology Investment Holdings Limited Announces Strategic Cooperation Agreement with Subsidiary of Chinese State-Owned Construction Group [Yahoo! Finance]
CDT Environmental Technology Investment Holdings Limited - ordinary shares (CDTG)
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Source: Yahoo! Finance
SHENZHEN, China, June 18, 2024 (GLOBE NEWSWIRE) -- CDT Environmental Technology Investment Holdings Limited (NASDAQ: CDTG) ("CDT"), a leading provider of waste treatment systems and services throughout China, announces the signing of a strategic cooperation agreement with a subsidiary of a large state-owned construction group in China. The parent company of the state-owned construction group is among the top 40 in ENR's 2023 ranking of the world's largest contractors. Under the terms of the agreement, the two parties will jointly plan and build a number of infrastructure and construction projects in Fuzhou New Area, involving water, sewage treatment, roads, and pipelines, with an estimated value of more than RMB 3 billion -- with an estimated 1 billion RMB net to CDT -- which will contribute to an expected increase in CDT's revenue by more than 50% in the next 3-5 years. Fuzhou New Area is the 14th State-level new district in China, established in September 2015, and is expected to
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