The inner Mongolia is one of China’s major coal production areas and is heavily polluted due to coal burning.
This new contract signifies the primary order that SmartHeat has received under the Chinese government’s $586 billion economic stimulus plan. The stimulus package announced in China in November 2008 designated about $58 billion in the funding of rural and urban infrastructure and energy efficiency projects.
SmartHeat expects further orders from various municipal governments in China as they continue to receive government funding allocated to energy efficiency projects.
James Wang, chief executive officer of SmartHeat, commented: SmartHeat’s energy savings products help cities significantly reduce heat energy costs and heating related pollution. This supply contract with the local municipality which is funded under the national economic stimulus plan attests to the expansion of our markets beyond large cities – the new growth areas where SmartHeat is well positioned to benefit from in 2009 and beyond.
