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October 12, 2004
Largo Vista Signs Contract to Develop LPG
Service for 5,000 Homes
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Oct.
12, 2004--Largo Vista Group, Ltd. (OTCBB:LGOV - News) announced
today that it has signed a contract to develop LPG (liquid
petroleum gas) pipeline "Project
Six" with a private developer in the Guizhou Province (population
40 million). The project consists of 5,000 residential homes
that will be supplied with LPG by installing western-type gas
lines, meters, and stoves. All of the LPG projects are under
an exclusive 40-year supply contract with the company. "The
acceleration of our LPG pipeline construction is obvious and
we are now on our way to securing 10,000 customers with LPG service
this year," stated Denise Deng, General Manager of LPG operations
for Largo Vista Group, Ltd. in China. "The average LPG usage
per household is approximately 70 RMB per month. This average
is for cooking only." Ms. Deng further stated: "Beijing has ordered
the end usage of coal and wood, which makes LPG the logical answer.
NG is very limited, however, someday it might be readily available.
The great thing is that our pipelines can handle either. We have
made our own specialty or, as I heard someone say, our 'niche
market,' where the majors are not pursuing the retail market
or downstream business - they are positioning themselves for
the future in the upstream side. This is our window. I see us
in the early stages of a utility company with no end to our potential
growth. China has the largest retail market potential for LPG
in the world!"
Largo Vista Group, Ltd. has offices in the U.S., China, and
Vietnam. They are receiving many inquires about the pipeline
projects. LGOV is leading the way for new standards of operation
in China and helped to organize the first LPG association, the
Zunyi Gas Association, which regulates and coordinates with the
Price Supervision Bureau to guarantee profits. For more information
go to http://www.largovista.com/.
The forward-looking statements in this release are made pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Actual results may differ materially due
to a variety of factors, including without limitation the company's
ability to produce and market products and or services and other
risks detailed from time to time in their company's reports with
the Securities Exchange Commission.
Contact:
Largo Vista Group
Investor Relations, 949-252-2180
Source: Largo Vista Group, Ltd.
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