ReTo Eco-Solutions, Inc. (RETO) experienced an incline of 14.76% in the premarket. However, the last trading session closed at $0.9062 with an incline of 3.26%.
Basic Engineering Design and Construction
On 18th August 2021, RETO stated that the Company has reached the entire development stage of a new iron tailings project in the Hainan Province through its wholly-owned subsidiary ReTo Mingsheng (Changjiang) Environmental Building Materials Co., Ltd. The Project has a three-million-ton treatment capacity in order to recycle recyclable solid waste, and the resulting product is estimated to generate roughly RMB 280 million (approximately US$43.7 million) in yearly sales once production is complete.
The design team, supervision team, and construction team are all now stationed at the job site, and a portion of the project has indeed been completed successfully. Moreover, the fundamental engineering design of the factory building, such as the leveling of the workshop area, drilling of the workshop foundation, and pouring of the fellowship beams, was finished by the end of June 2021. The manufacturing building and ground equipment foundation will be the next stage of development. Lastly, the local government chose RETO because of its patented method for secondary sorting, selection, and utilization of iron ore from iron tailings, as well as its competence in recycling the leftover ore and converting it into ecologically acceptable construction materials.
Annual Iron Ore Tailings Treatment
RETO announced a new iron tailings project with a three-million-ton treatment capacity in Hainan Province on 23rd June 2021. The project is estimated to generate around RMB 280 million in annual sales once it is operational. RETO will design, construct, and operate a plant in Hainan Province, with this newest project handling the biggest volume of iron tailings in the province. Moreover, the local government chose ReTo because of its patented technology, capacity to execute and manage secondary sorting of iron tailings, iron ore selection and usage, and competence in recycling.
The Project is expected to create a gross profit of RMB 131 million (US$20.4 million) for the Company. Various systems, including three-stage crushing, two-stage screening, sand manufacturing, and beneficiation, are used by the Company to produce the most sophisticated, mature, and dependable technologies in the world. Lastly, the Company’s leftover material may be utilized as an aggregate to make building materials.
RMB 1.25 million Equipment Supply Contract
On 2nd June 2021, RETO reported that its wholly-owned Beijing Reit Technology Development Co., Ltd. has signed an agreement with an RMB 1.25 million equipment supply contract. The project is intended to supply sewage and trash treatment technology as well as efficiently address the challenges associated with everyday sewage and garbage disposal for more than 300 local households.
The company ought to receive the Contract to deliver the equipment. Moreover, the Contract attests to the Company’s cutting-edge technology, high-quality goods, and enviable industry reputation. The Company is always actively involved in rural construction to give local inhabitants realistic and viable environmental improvement solutions.