Assets Repurchase Agreement for the TRT Waste Pressure for Power Generation ProjectChina Recycling Energy Corp • November 14th, 2014 • Services-business services, nec
Whereas: Party A and Zhangzhi Iron & Steel (Group) Co., Ltd., the predecessor of Party B entered into a TRT Project Cooperative Agreement on June 22, 2006. Party A has fulfilled its obligations including construction, test and power generation of the project as agreed in the cooperative agreement. Party A has the ownership of this project. The term for providing energy-saving service is 13 years. However, during the cooperation term, Party B was acquired by Capital Steel Group and became Capital Steel Group Zhangzhi Iron & Steel Co., Ltd. The new company has made adjustment on its policies and fully integrated all waste heat and waste pressure power generation projects under the group. The new company will operate and manage all its waste to power generation projects in house.
