PINGDINGSHAN, China--(BUSINESS WIRE)--Yulong Eco-Materials Limited (NasdaqCM:YECO), a China-based vertically-integrated manufacturer of eco-friendly building products, today announced it has commenced waste hauling and recycling operations in the Lingyuan district section of a high-speed railway construction project in the city of Shangqiu, Henan Province. The railway will connect the cities of Zhengzhou in Henan Province and Xuzhou in Jiangsu Province. As announced last month, Yulong won this contract from a Central Government agency.
Yulong has redeployed 15 hauling trucks from its existing operations in Pingdingshan to Shangqiu. As per the terms of the contract, Yulong will receive 19 RMB (or approximately $3) per metric ton of hauled waste. Of note, the Liangyuan district site is projected to generate over 1.3 million metric tons of construction waste through its completion.
The collected waste is processed at a Company-owned mobile recycling station, which has an annual processing capacity of 2 million metric tons. The Company expects to generate additional revenue by selling the processed waste as raw materials to local construction companies.
Mr. Yulong Zhu, CEO of Yulong, commented, “We believe that our work on this prestigious project will help us secure further hauling and recycling contracts outside our core market of Pingdingshan. In fact, we are currently in discussions for one such contract in the city of Zhengzhou, the provincial capital of Henan Province.
“Our company is well positioned to capitalize on significant opportunities arising from China’s growing public consciousness regarding the need to recycle construction waste, a trend we believe will be instrumental in helping Yulong expand into other cities and provinces.”
About Yulong Eco-Materials
Yulong is a vertically integrated manufacturer of eco-friendly building products and a construction waste recycling company, located in the city of Pingdingshan in Henan Province, China. The Company is currently the leading producer of fly-ash bricks and concrete in that city and in late April 2015, it commenced its hauling and construction waste recycling operations.
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