DGAP-News: Greenworld Wind Power in Joint Venture to Develop Philippine Water Treatment and Supply Company
(firmenpresse) - DGAP-News: Greenworld Wind Power Co.Ltd. / Key word(s): Joint Venture
Greenworld Wind Power in Joint Venture to Develop Philippine Water
Treatment and Supply Company
29.02.2012 / 09:00
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Greenworld Wind Power in Joint Venture to Develop Philippine Water
Treatment and Supply Company
Toronto, Canada - February 29, 2012 - Greenworld Wind Power Co. Ltd.
(Greenworld): Deutsche Börse symbol: GWDA (www.greenworldpower.ca), has
entered into a joint venture with Singfil Hydro Builders Corporation
(Singfil) to develop a water treatment and supply facility for the
Masbate-Mobo water district in Masbate Province, Philippines.
Singtrader JV Corp. has been founded to develop the project, and Greenworld
acquired a 25% interest in the Company for 17.5 million pesos, while
another private investor brought in by Greenworld has taken 25% interest
under similar terms. Singfil retains the remaining 50% interest in the
venture.
Singfil recently won the bulk water supply contract and approached
Greenworld to help develop the project. The Joint Venture Company will
build the water treatment and supply facility which is anticipated to begin
operations in June of this year. When completed, the facility will supply
7,000 cubic meters of water (cbm) per day to the Musbate-Mobo Water
District at a price of P 11.88 per cbm, with annual revenue of just over P
30 million and an estimated net income of approximately P 8.5 million, or
roughly EUR152,000 per annum.
The Water supply contract has a fifteen year term, and may be extended
under a new Agreement when the current contract expired.
Disclaimer&Safe Harbor Statement:
This release may contain certain 'forward-looking statements' with respect
to certain of Greenworld Wind Power Co. Ltd.'s plans, goals and
expectations regarding its future financial condition, performance,
results, strategy and objectives. Words such as 'anticipates', 'expects',
'intends', 'plans', 'believes', 'seeks', 'estimates', 'may', 'could',
'would', 'might', 'will' and variations of these words or similar
expressions are intended to identify forward-looking statements. In
addition, any statements that refer to expectations, beliefs, plans,
projections, objections, performance or other characterizations of future
events or circumstances, including any underlying assumptions, are
forward-looking statements. Forward-looking statements in this press
release are not promises or guarantees of future performance and are
subject to risks and uncertainties that could cause Greenworld Wind Power
Co. Ltd.'s actual results to differ materially from those anticipated.
Greenworld Wind Power Co. Ltd. cautions the reader not to place undue
reliance upon any such forward-looking statements. These forward-looking
statements involve known and unknown risks as well as uncertainties,
including those discussed herein as well as the following: (i) domestic and
global economic and business conditions; (ii) market related risks and the
performance of financial markets generally; (iii) the policies and actions
of regulatory authorities; (iv) the impact of competitive factors; (v)
risks and uncertainties associated with future acquisitions or combinations
within relevant industries; and (vi) changes in capital, solvency or
accounting standards as well as tax and other relevantlegislation or
regulations in the jurisdictions in which Greenworld Wind Power Co. Ltd.
operates. The actual results that Greenworld Wind Power Co. Ltd. achieves
may differ materially from any forward-looking statements which are based
on management's beliefs and opinions at the time the statements are made.
Greenworld Wind Power Co. Ltd. does not undertake any obligation to update
forward-looking statements should circumstances or management's beliefs or
opinions change.
For further information please contact:
Greenworld Wind Power Co. Ltd.
100 Consillium Place
Suite 200
Scarborough, ON
M1H 3E3
Email: info(at) greenworldpower.ca
End of Corporate News
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158431 29.02.2012
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