Yangling, Shaanxi, May 02, 2019 (GLOBE NEWSWIRE) -- Kiwa Bio-Tech Products Group Corp. (OTCQB: KWBT) (“Kiwa Bio-Tech” or “the Company”), an emerging agricultural company that develops, manufactures and markets bio-fertilizers for use in the multi-billion China agriculture and aquaculture markets is pleased to announce that the Company’s Yangling Eco-friendly Agricultural Headquarters Construction Project has been included in the list of key construction projects of Shaanxi Province for 2019. This announcement was made public by the Shaanxi Provincial Development and Reform Commission.
The key construction projects in Shaanxi Province during the year 2019, include three categories: Continued Projects, New Construction Projects and Preliminary Projects. The total investment in all three categories is approximately $596,000,000 USD - (RMB 4,016.57 billion yuan).
Kiwa Bio-Tech Yangling Eco-friendly Agricultural Headquarters Construction Project was selected as the Modern Agriculture and Major Water Conservancy series in the Preliminary Projects category.
“Kiwa Bio-Tech Yangling Eco-friendly Agricultural Headquarters Construction Project covers an area of 53 mu (approximately 8.77 acres), with an investment of approximately $44.5 million USD – (RMB 300 million yuan), and will include fermentation and production terminals, agricultural produce sorting facilities and storage, a research and development institute and corresponding ancillary facilities.“ stated Kiwa Bio-Tech CEO Ms. Wang.
Kiwa Bio-Tech Yangling project is expecting to be completed in 2020. The company projects the manufacturing capacity to be 60,000 tons of Kiwa Bio-Tech’s core microbes. The annual production value is projected to be over $65,000,000 USD (approximately 438 million RMB).
“Our successful construction of the Yangling Project will break the current situation of small-scale production of microbial fertilizers in China and lead the standardization and scale construction of the new fertilizer industry. At the same time, it will provide support for the development of eco-friendly agriculture and the implementation of the Trinity Agricultural Marketing Model.” Added Wang.
Links to the list of key construction projects in Shaanxi Province announced by the Shaanxi Provincial Development and Reform Commission in 2019:
http://www.sndrc.gov.cn/uploadfiles/files/2019031308552574.pdf
About Kiwa Bio-Tech Products Group Corp.
Leader in Eco-friendly Agricultural Industry Chain
Kiwa Bio-Tech Products Group Corp. (KWBT) is a publicly traded company with corporate headquarters in the Yangling, Shaanxi, China. The company develops, manufacture, markets and distributes innovative and environmentally safe bio-technological products for agriculture. Kiwa’s focus is to positively impact the environment by reducing the amount of chemical fertilizers that are being used by agricultural growers in China.
Kiwa Bio-Tech Products Group Corp. products are covered by patent protection and are designed to enhance the quality of human life by increasing the value and productivity of agricultural crops.
For more information on Kiwa Bio-Tech Products Group Corp. or its bio-fertilizer products and smart soil remediation technology, please refer to the Company’s website at www.kiwabiotech.com or the Company filings with the United States Securities and Exchange Commission at www.sec.gov.
Forward-Looking Statements
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company’s reports filed with the U.S. Securities and Exchange Commission. The forward-looking information provided herein represents the Company’s estimates as of the date of the press release, and subsequent events and developments may cause the Company’s estimates to change. The Company’s actual results may differ materially from those anticipated in the forward-looking statements depending on a number of risk factors including, but not limited to, the following: general economic, business and environment conditions, development, shipment, market acceptance, additional competition from existing and new competitors, changes in technology, the execution of its ten-year growth plan, the foreign exchange risk amid the unexpected announcements by the PRC government and various other factors beyond the Company’s control. Kiwa Bio-Tech Products Group Corp. specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release.
Contact:
Kiwa Bio-Tech Products Group Corporation
ir@kiwabiotech.com