FORT LAUDERDALE, FL, June 15, 2005 (BUSINESS WIRE) -- Dragon Venture (DRGV), a holding company of high-tech companies in China, reports today that Shanghai Yazheng Information Technology Co. Ltd., a subsidiary of DRGV, recently signed three contracts to provide water control automation systems for Qidong Water Company, Nanhui Huinan Water Company, and Songjiang Jiuting Waste Water Treatment Company. Three contracts have a total value of over RMB$3 million (about US$360,000).
Yazheng will employ proprietary applications in conjunction with hardware developed by Schnide and Siemens, to furnish water control automation systems for these companies. The whole process includes a raw water pre-process system and regular water treatment. Yazheng expects to provide increased control measures and in turn yield higher water quality.
In China, water resources shortage, together with severe water pollution, is becoming the bottleneck of continuing development and economic growth. In many cities, water supply and drainage including sewage treatment are an indispensable part of each cities infrastructure and environmental construction in order to attract investments. In the meanwhile, the infrastructure of water supply and water treatment is an important sign of the completion of city facilities, vigor and prosperity. In the past few years, the local governments have adopted aggressive financing policies to encourage infrastructure construction including water supply and drainage, which resulted in faster development and more significant growth of municipal supplied water and waste water treatment.
From 1998 to 2002, China has invested a total of about US$10 billion in city water supply, of which about $7.25 billion went to waste water treatment, and has added 286 waste water treatment facilities. From 2001 to 2002, the fixed assets invested totaled $6 billion for waste water treatment, increased at an annual rate of 5.72% for waste water treatment, compared with the year 2000. Obviously, China has attached great importance to waste water treatment.
Lawrence Wang, CEO of Dragon Venture and General Manager of Yazheng, commented, " We are very pleased to sign three contracts that demonstrate the excellence of our software system that was developed by our own software engineers. The importance of water preservation to mankind will become a precious commodity which determines the degree of wealth of a nation. Likewise, how a nation treats its water resources will decide its rise and decline. Industry authorities believe that nations that give water treatment first priority will gain a competitive advantage. City water supply and treatment is a tough and challenging task that has become an increasingly important component of a municipality's development. Given the support of the government authorities, we believe this industry offers tremendous development potential. We believe our Company will benefit from the significant investment by public funding for years to come."
Dragon Venture (www.dragonventure.net) is a holding company of high-tech companies in China. Dragon was established to serve as a conduit between Chinese high-growth companies and Western investors. Its current focus is on the development of wireless 3G-based applications and business solutions. Two companies it has acquired are among the leading providers of mobile Internet applications and business solutions in China. As China emerges as a growing force on the global stage, Dragon's professionals will provide invaluable services for Western investors seeking to gain access to the Chinese high-tech economy. In addition, the company functions as an incubator of high-tech companies in China, offering support in the critical functions of general business consulting, formation of joint ventures, access of capital, merger & acquisition, business valuation, and revenue growth strategies. It will develop a portfolio of high-tech companies operating in China.
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