China Recycling Announces Energy Recovery Project Still On Schedule; Shares Flat Midday

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China Recycling Energy Corp. ( CREG ) shares are flat at $1 in midday trade after the company announced that the construction of its Shanxi Datong Coal Group Steel Ltd. Energy Recovery Project is progressing according to schedule. CREG says it expects the project to be completed by the end of this year.

As previously announced, Xi'an TCH Energy Technology Company, a wholly owned subsidiary of CREG, signed a deal with Shanxi Datong Coal Group Steel Ltd. to co-develop the Shanxi Datong Project. The project recycles gas and steam to generate power, and the total investment is approximately $27.45 million.

CREG trades in the low end of its 52-week range of $0.78 - $3.30. Shares have fallen 17% in the last 12 months.



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This article appears in: Investing , Commodities

Referenced Stocks: CREG

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