Hong Kong, Jan 4, 2006 (ABN Newswire) - The directors of Global Green Tech Group Limited (HKSE: 0274) refer to the announcement of the Company dated 5 August 2005 in relation to the new business line of recycling waste tyres and plastic products into usable oil, diesel, gasoline and natural gas that the Group intends to actively pursue.
The Company is pleased to announce that Hong Kong Science and Technology Parks Corporation has approved the Group's application for a site located at Yuen Long Industrial Estate to pursue its recycling business. As the entering into the recycling business is one of the Group's major movements in the coming years, it is expected that the Group will invest about HK$250 million to pursue the recycling business and the construction of the recycling plant will start in the first quarter in 2006.
Global Green Tech Group Limited develops, manufactures, and sells home and personal care products, industrial products, cosmetics and skin care products, and biotechnology products with medical and cosmetic applications. The Company also sells Best Micro-organism System wastewater and sewage treatment equipment.
Global Green Tech Group Limited Chairman: Lau Jin Wei, Room 3402-08, 34th Floor, Office Tower Convention Plaza, 1 Harbour Road, Wanchai, Hong Kong