Pursuant to the agreement, Recon will partner with BOW Engineering to provide a complete set of wastewater treatment equipment and service to an upgrade renovation project for Golmud Petroleum Refinery, which is expected to be completed by the end of May 2017, with the agreement valued at RMB 6.37 million (approximately US$0.94 million).
China's new Environment Protection Law and the Emission Standard of Pollutants for the Petroleum Refining Industry (Emission Standard) enacted by the Ministry of Environmental Protection of PRC (MOEP) require all petroleum industry companies in China to meet higher standards for industry wastewater by 1 July 2017. As China has increasingly enforced compliance with these requirements, oil and chemical companies have been upgrading their old equipment and treatment technology with renovations such as those being undertaken at the Golmud Petroleum Refinery.
