Tritech unit enters into strategic MOU with Shenzhen Techand Ecology & Environment

ENVIRONMENTAL engineering firm Tritech Group announced that wholly owned subsidiary Tritech Environmental Group has entered into a non-binding, five-year memorandum of understanding (MOU) with Shenzhen Techand Ecology & Environment, which is listed on the Shenzhen Stock Exchange.

Under the MOU, which is not legally binding, both firms will identify synergies between both companies to "create opportunities for joint or allied effort" for environmental protection and conservation and water treatment projects in China, and share market and government resources.

In addition, both parties agreed to give priority to each other for collaboration on projects secured by either, and share resources and information when tendering for projects.

Tritech Environmental and Techand have also agreed to establish a consortium to jointly bid for future projects and tenders.

Techand is primarily engaged in eco-environmental protection, ecological landscaping and ecotourism, according to Tritech's press statement.