SOURCE: Parafin Corporation

ParaFin Corporation

October 10, 2012 14:31 ET

ParaFin Corporation's 25% Partner, Resource Development Group, Inc., Enters Into Partnership With Turkish Municipalities

LOS ANGELES, CA--(Marketwire - Oct 10, 2012) - ParaFin Corporation (PINKSHEETS: PFNO): (ISIN: US69912M4006) USA - The Resource Development Group, Inc. (RDG) has informed ParaFin that "the Turkish SYAT Ltd., a 100% owned cooperation partner of the Resource Development Group, Inc., is currently negotiating with various Turkish local authorities to establish joint project companies for the implementation of projects in the areas of environment, energy and public health. The discussions to date with local government officials and ministers in Ankara have been very promising. The Resource Development Group, Inc. is expecting the first project Company to be founded shortly. The Company structure will be based upon the PPPs (Public Private Partnerships) known in Germany.

"Manfred Brecht, the European Manager of the Resource Development Group, Inc., described the attractive support programs in Turkey as follows: 'Turkey is facing big harmonisation challenges in meeting the EU standards with respect to their anticipated entry into the European Union. Alone, the costs for adapting and maintaining the environmental requirements of the European Union have been estimated at EUR 60 - EUR 80 billion by the Turkish Environment and Forest Ministry. The funds will primarily be allotted to the water sector with the emphasis on fresh water and sewage. There is also a big demand for investment and modernization in the areas of energy and waste disposal.' As an official candidate for entry into the EU, Turkey will be sponsored by the European Union through the IPA (Instrument for Pre-Accession) mechanism. The basis for the European Union support of the IPA is divided into five primary areas which, in turn, are broken down into specialized operational programs and procedural packages. Three operational programs have been created for support in the principal area of regional development: environment, regional competitive position and transportation. The primary goals of the program are an increase in environmental protection, an improvement in the quality of life for the population, better access to fresh water as well as the expansion and the modernisation of sewage treatment and waste management facilities."

The website of Resource Development Group, Inc. is www.resource-development-group.com 

ParaFin Corporation
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Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors including, but not limited to those, set forth in the Company's Form 10-KSB and Annual and Quarterly filings with www.Pinksheets.com and other filings with the United States Securities and Exchange Commission (available at http://www.sec.gov/). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.

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