GEECF / XETRA:GLI : Chinese Financiers Increase Funding for An Ji Project, to $40,000,000
January 07 2007 - 6:00PM
PR Newswire (US)
NASSAU, Bahamas, Jan. 7 /PRNewswire-FirstCall/ -- Global
Environmental Energy Corp (Bahamas) (Trading Symbols: Deutsche
Bourse GLI (DE:GLI)- USA OTC Bulletin Board: GEECF) subsidiary
Biosphere Asia Pacific has partnered with the Shing Tak Shun Tak
Investment Co. Ltd., to finance expanded projects in China. The An
Ji joint venture now financed by Shing Tak Shun Tak will have a
capital investment of approximately $40,000,000, having been
increased from $12,000,000 in the short term thus allowing for the
processing of 100,000 tonnes of MSW per year, as compared to the
initial 40,000 tonnes target. Biosphere Asia Pacific owns 51% of
the joint venture and revenue will be derived from initial system
sales, maintenance contracts and Biosphere's participation in the
operating profits of the joint venture. Additional ongoing
projected revenues received from tipping fees and the sale of
electricity generated is estimated to be $15.1 million per year.
Global is a Bahamian Company publicly traded on stock markets in
Germany and the United States. Global maintains a web site at
http://www.gli-geecf.com/. This press release contains
forward-looking information within the meaning of Section 27A of
the Securities Act of the 1933 and Section 21E of the Securities
Exchange Act of 1934, and is subject to the safe harbor created by
those sections. DATASOURCE: Global Environmental Energy Corp
CONTACT: Global +1-242-323-0086 Web site: http://www.gli-geecf.com/
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