ReTo Eco-Solutions, Inc. (NASDAQ: RETO) revealed its unit, Xinyi REIT New Material Co., Ltd. has started the manufacturing of the Waste Treatment Center of Xinyi City. ReTo aimed to resolve all the ecological issues and to provide technical expertise to customers so that they can attain their environmental goals.
ReTo has previously signed a contract with the Municipal Government of Xinyi in 2019 for the construction of the urban waste treatment center but the construction was suspended because of the pandemic. After signing a 5-year construction deal, ReTo plans to enhance the process of recycling in the urban area of Xinyi City.
Xinyi City is popular for its green development, economic strength, innovation, and investment capacity. Under the new development agreement, ReTo will combine its technologies expertise to recycle solid waste into useful products that are helpful for the residents. It is anticipated that the yearly processing volume of construction waste will surpass 600,000 tons.
Share of ReTo Eco-Solutions Inc. (NASDAQ: RETO) rose 24.70% as it gained +0.15 on Friday. It had reported a trading volume of 30.96 million as compared to the average volume of 465.24K. In the past 52-weeks of trading, this company’s stock fluctuated between the low of $0.30 and a high of $1.92. It had moved up 143.33% from its 52-weeks low and moved down -61.98% from its 52-weeks low. ReTo Eco holdings market capitalization remained high, hitting $16.61 million at the time of writing.
ReTo is striving to help customers with its expertise and anticipate that the final product of the waste treatment center will be useful for road construction, municipal engineering, & other urban constructions. ReTo has earlier unveiled that it has completed the sewage treatment projects it was awarded in the Henan Province. ReTo received these projects because of its continuous success in similar projects and it has the technical expertise to complete these types of projects.