China Security & Surveillance Technology signs two E-city project agreements in Shaanxi

China-based digital surveillance technology provider China Security & Surveillance Technology Inc (CSST) (NYSE:CSR)(Nasdaq Dubai:CSR) announced on Monday it has signed two E-city project framework agreements for Huayin City and Shangluo City in Shaanxi Province,

The company said both agreements are together valued at approximately CNY2.7bn (approximately USD394.7m). The potential revenue from these two projects is expected to be recognised within the next three to five years.

The detailed execution time and value of both projects will be subjected to specific agreements and corresponding revenues will be recognised upon the further signing and execution of binding contracts, which is expected to be carried out in 2010.

The framework agreement with Huayin is valued at approximately CNY1.5bn (approximately USD219.3m). The E-city project is designed to advance the information facilities of Huayin City, to provide an integrated digital platform of its tourism information, to strengthen its position as a tourism destination and enhance regional economic growth.

The framework agreement with Shangluo City is valued at approximately CNY1.2bn (approximately USD175.4m). The E-city project aims to build out am integrated Safe City platform, an emergency response system and an information-based transportation management system to improve urban information communication and management infrastructure, accelerating the urbanisation process and economic growth in the region.

(USD1=CNY6.83)

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