Jan 22 2010
Gold Horse International, Inc., (OTC Bulletin Board: GHII) ("Gold Horse" or "the Company"), a multifaceted business group that controls and operates a construction company, real estate development business and a hotel in Inner Mongolia, China, today announced that the Company successfully completed the Lanyu Garden (No.3 Residential Building) project as scheduled and Fu Xing Committee Bath Center project has been substantially completed and will be completed during the third quarter of fiscal 2010.
The Lanyu Garden project was completed within budget and comprehensive inspections have been carried out. The Company has also completed the Inner Mongolia Chemistry College Chemistry School and received the initial annual installment of approximately $1,500,000.
In addition, Gold Horse has secured new construction work valued at RMB 301.8 million ($44.2 million) with an expected gross profit of RMB 60.3 million ($8.8 million).
The Low-Rent Housing Construction project of Chasuqi Town, valued at RMB 97.4 million ($14.2 million), contains three buildings with a construction area of 53,000 square meters. Jin Ma Construction Co. Ltd., an entity controlled and operated by Gold Horse, began construction in November 2009 and expects to complete the project in June 2010 with an estimated gross profit of RMB 19.5 million ($2.9 million).
Jin Ma Construction Co. Ltd. has also begun construction of the Jianhe Garden residential apartment in November 2009. Valued at RMB 204.4 million ($30.0 million), this project contains ten buildings with a construction area of 113,584 square meters. Gold Horse expects to complete this project in December 2010 with an estimated gross profit of RMB 40.8 million ($6.0 million).
"We are pleased to announce the timely completion of the key construction project to the highest standards, further solidifying our reputation as a valued and reliable contractor in Hohhot," said Mr. Liankuan Yang, chairman and CEO of Gold Horse.
Source: http://www.goldhorseinternational.com/