Agreement for Stationing Project into Industrial Park (English Translation)China Ritar Power Corp. • May 30th, 2007 • Miscellaneous electrical machinery, equipment & supplies
Party B will station the project of lead-acid battery plates and lead-acid battery assembly (the “Project”) into Hunan Henyang Songmu Industrial Park (the “Industrial Park”). The total investment amounts of the Project will be RMB 0.8 billion and the required area of land for the Project will be about 400 Mu. The Project will be constructed in three phases within the next four years. After the Project reaches its designed production capacity, the estimated annual production value will be RMB 2.5 billion, the annual tax will be RMB 0.1 billion and it will provide 7,200 job opportunities. The investment amount in the first phase construction of the Project will be RMB 0.2 billion and a land plot with the area of 70 Mu will be requisitioned for the construction of the first production line of lead-acid battery plates, which is anticipated to become operational in October, 2007. The production capacity for lead-acid battery plates will be 25,000 tons per year by September, 2008 and the ann
