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DGAP-News: GreenLife Tech Corp
/ Key word(s): Agreement/Miscellaneous
13.09.2021 / 13:21
The issuer is solely responsible for the content of this announcement.
GreenLife Tech Corp. has signed a five-year contract with Hi Technological Plastic Industries LLC (HTPI) based in UAE to purchase plastic recycling technology and machines. HTPI has also agreed to buy all finished goods from GreenLife Tech Corp for the next five years. HTPI has also agreed to supply all technical know-how to GreenLife Tech Corp. This is a win-win situation for both companies as HTPI will get access to more finished products. Presently there is an acute shortage of finished products.
GreenLife Tech Corp intends to build its factory in UAE. The Gulf countries present a unique opportunity whereas scrap plastic is in abundance in countries like UAE, Oman, Doha, Bahrain, Kuwait and Saudi Arabia. GreenLife Tech Corp intends to acquire an area of 45,000 sq ft their build their production facility by the first quarter of 2022.
K. Abul H.Kabir
Director
13.09.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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