Beijing-based Tri-Tech Holding Inc, an engineering solution provider to the water and wastewater treatment market, has said it has suspended its India partnership with Chengdu Xingrong Investment Co Ltd (CXI) of China. Tri-Tech Holding said it has agreed with CXI not to move forward with their joint venture partnership in India. The move comes barely eight months after Tri-Tech Holding Inc announced it had established a joint venture partnership to further develop Indian water infrastructure markets with CXI. Tri-Tech CEO Phil Fan was quoted as saying in an official statement, We understand that CXIs new leadership has shifted its growth strategies, and we still will continue to look to CXI as a valuable partner in China. Tri-Tech Holding already has a presence in India and had last announced in late 2011 that it has bagged $42 million contracts from the Bihar Government for wastewater treatment plants. #Read #More : bit.ly/15QnjAe
Posted on: Sat, 19 Oct 2013 06:20:01 +0000
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