HONG KONG, March 22, 2006 (PRIMEZONE) -- NT Holding Corp. (OTCBB:NTHH) today announced the closing of a definitive agreement with the Chinese coking coal producer Shanxi Jinhai Metal Group Ltd. ("Jinhai") The agreement was consummated on March 12, 2006, finalizing the joint venture agreement between NTHH and Jinhai. Pursuant to the agreement, NTHH and Jinhai will form a Sino foreign joint venture company in China under the name of "American - Asia Metallurgical Industry Ltd." Jinhai is a Chinese corporation that engages in coking coal and steel production. Under the definitive agreement, Jinhai will inject all its existing operations into the Sino foreign joint venture.
Located at Shanxi Province in China, a region known as being rich in reserves of coal, Jinhai is surrounded by an abundant source of raw material to support its production of coking coal and steel. Jinhai currently employs approximately 500 employees and its production facilities occupy a landmass of approximately 2 million square feet. The current production capability of Jinhai reaches an annual output of approximately 180,000 tons of coking coal and 200,000 tons of steel.
According to the International Energy Agency (IEA), China is the largest coal consumer in the world, with its coal consumption accounting for one fourth of the world's total. It is expected that by 2010, total coal demand in China will reach 1,800 million tons due to the increasing demand for power and heat generation by this growing nation. A full report about China's coal consumption can be viewed here:
http://www.iea.org/Textbase/work/2003/beijing/4Youg.pdf
In the coming years, Jinhai will primarily focus on expanding its production capacity in coking coal and steel, as well as entering into the chemical industry through the process of utilizing residues during the coking coal production process.
About NT Holding Corp.
NTHH, through its subsidiaries, invests in and operates companies in China that engage in energy and natural resources businesses. NTHH is based in Hong Kong and currently operates two subsidiaries in China: (1) Fujia Coking and Chemical Company Limited, a company that owns the drilling rights of a coke mine property; and (2) American - Asia Metallurgical Industry Limited, a company that owns a coking coal refinery. NT Holdings Corp is positioning itself to support China's growing need for power, energy and natural resources.