SOURCE: China Metro-Rural Holdings Limited

China Metro-Rural Holdings Limited

October 08, 2010 08:56 ET

CNR Announces Groundbreaking Ceremony in Dezhou, Shandong on 8th October 2010

NEW YORK, NY--(Marketwire - October 8, 2010) - China Metro-Rural Holdings Limited (the "Company") (NYSE Amex: CNR) entered into a framework agreement with Dezhou Municipal Government of the PRC ("Dezhou Government") in July 2010 to develop a logistics platform in Dezhou ("Dezhou Project"). The Company has been invited by the Dezhou Government to attend their groundbreaking ceremony on 8th October 2010 (the "Groundbreaking Ceremony"). 

Groundbreaking is a traditional Chinese ceremony that signifies the commencement of a project. The Groundbreaking Ceremony was hosted by the Dezhou Government and attended by dignitaries such as provincial government officials, our independent non-executive directors and our business partners nationwide. The Dezhou project will comprise of relocation of the existing trade centers, which will involve construction, sales and leasing of new trade center units and other auxiliary infrastructures with industry focus in agricultural and small industrial products. 

"Dezhou Project facilitates a relationship between sellers and buyers of agricultural commodities and small appliances by providing a relevant physical platform, timely marketing information and intelligence, transparent and competitive market price discovery mechanisms and infrastructure for rural value addition and empowerment. The total site area of the project is approximately 7 million sq. m. with the maximum gross floor area of approximately 14 million sq. m. The development duration for the entire project will take approximately 10 years. This project will help fuel our future growth. We focus on the delivery of highly gratifying and good results to all of our shareholders," states Sam Sio, CEO of the Company.

Contact Information

    China Metro-Rural Holdings Limited
    Investor Relations Department
    Phone: (852) 2111 3815
    E-mail: Email Contact