To provide some background, the sinter at a steel production facility contains equipment where powdered iron-ore is mixed with coking coal or anthracite and burned at high temperatures for further processing in the blast furnace. It is one of the first components of the steel production process and as a result significant amounts of air pollution are generated, which are comprised of SO2 (sulphur dioxide), NO2 (nitrogen dioxide), dust and metal particles. RINO International, Inc. was the first company in As detailed in the report, The new policy carries important implications for RINO's business as it prioritizes the steel sinter FGD as a priority environmental project, sets specific desulphurization targets, and enables both the central and local governments to provide priority funding for the installation of FGD equipment, while offering further support for domestic based technology. The government plan calls for the number of sinters to be equipped with FGD systems to double annually through 2011. Specifically, the government aims to install FGD for an additional 15,800m2 of sintering bed capacity with a total of 200,000 tons of annual desulphurization capacity. To support adoption, the government will encourage the build-out through BOT (build-operate-transfer) ownership structures which would allow the financier to operate the system for up to 20 years and then transfer ownership to the steel producer. The government will increase its ongoing inspection of SO2 emission by steel companies and plans to install on-line, real time monitoring devices to ensure compliance. Mr. Zou Dejun, President and CEO of RINO International, commented, "We are very pleased with the recently published guidelines that support accelerated adoption of FGD systems found specifically in the steel industry. We believe that the addressable market for sinter FGD systems specific to RINO is over 200, which includes sinters at least 90m2 in size, and creates a billion dollar plus opportunity for our Company. We anticipate our growth will accelerate during the coming year as the government mandate creates an impetus for steel companies to become compliant while enforcing air emission guidelines. We have seen new bidding activity pick up in response and are currently pursuing a couple of very large sinter projects." About RINO International Corporation RINO International Corporation, through its direct and indirect subsidiaries, including Innomind Group Limited and Dalian Innomind Environment Engineering Co., Ltd., its contractually-controlled affiliate, Dalian RINO Environmental Engineering Science and Technology Co., Ltd. ("Dalian Rino") and Additional information about the Company is available at the Company's website: http://www.rinogroup.com . Cautionary Statement Regarding Forward-Looking Information Certain statement in this press release may contain forward-looking information about the Company. Forward-looking statements are statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology, and statements which may include discussions of strategy, and statements about industry trends future performance, operations and products of each of the entities referred to above. Actual performance results may vary significantly from expectations and projections as a result of various factors, including without limitation and the risks set forth "Risk Factors" contained in the Company's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q. This is a summary of the report issued by the Chinese Ministry of Industry and Information Technology and is not a complete translation. This information could be subject to change without notice. RINO did not independently verify information provided in the report. For more information, please contact:
For the Company:
Jenny Liu, CFO
Tel: +86-411-8766-1233
Email: jennyliu@rinogroup.com
Investors:
HC International, Inc.
Matt Hayden
Tel: +1-561-245-5155
Email: matt.hayden@hcinternational.net
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12 years ago