July 8, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — China Fire & Security Group, Inc. (NASDAQ: CFSG), a provider of industrial fire protection systems in China, said it has been awarded a contract for Fire Detection Systems with China Nuclear Power Engineering Co., Ltd., valued at around $10 million, the largest amount contracted from CNPEC to date.

CNPEC, headquartered in Shenzhen, Guangdong Province, is a subsidiary of China Guangdong Nuclear Power Group, the largest of the three nuclear power companies in China. CGNPG is in the process of constructing five new power-generating projects, which will have a total installed generating capacity of around 21,000 MWe. Among these projects is the Taishan Nuclear Power Plant (the "Taishan Plant").

The Taishan Plant, located in Taishan City, Guangdong Province, began its official construction on December 21, 2009. It is the first nuclear power station in China to be adopting the latest Evolutionary Power Reactor Technology. The overall plan is to build four sets of nuclear power units, with a single unit within this project targeting capacity of 1,750 MWe, the largest single-unit output in the world.

EPR technology is a third-generation nuclear power technology designed and developed in Europe with a main design objective of stronger safety and enhanced economic competitiveness compared to previous nuclear technologies.

According to the revised Chinese Medium- and Long-term Development Plan for the Nuclear Power Industry (2005-2020), China aims to have an installed nuclear power capacity of 70-80 gigawatts by 2020, where most nuclear power units will adopt third generation technology.

For the NI portion of the contract, China Fire, together with the Company's business partner, will serve as a fire-detection system designer and equipment provider. This part of the contract is valued at around $8 million and scheduled to be completed within the next three years.

Under the CI and BOP portions of the contract, China Fire will serve as a fire-detection equipment provider for various fire-detection products with a total value of around $2 million.

China Fire will provide fire-detection products that include the Company's proprietary recoverable rate-of-rise temperature linear heat detectors, infrared flame detectors, and special infrared flame detectors for explosion-hazard areas. The project is expected to be completed within the next three years.

China-based China Fire & Security Group, through its wholly owned subsidiary, Sureland Industrial Fire Safety, is a solution provider of industrial fire protection systems in China. Founded in 1995, China Fire is headquartered in Beijing with about 430 employees in more than 30 sales and project offices throughout China.

Real-time, streaming research for companies and funds mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate (at http://investrend.stocksmart.com/ss/html/hpcompany.html). Current valuation analysis research for companies and funds mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate (at http://www.valuengine.com/rep/searchsrep?pid=42&srchfor=).

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public other companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (at http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation from subject entities, companies, equities, or representatives thereof, for its news, opinions or distributions. Further disclosure is posted at the FinancialWire(tm) website (at http://www.financialwire.net/disclosures.php and http://www.financialwire.net/2010/04/23/safe-harbor/). Additional resources for investors are also accessible via the FinancialWire(tm) website (at http://www.financialwire.net/2010/04/23/investor-resources/). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Copyright © MMX, FinancialWire(tm); All rights reserved.

[hlmsmlh] [prfssnlsrvctsrc] [ntrntnlcmpnsbsnss] [chnchn] [nrgygrn] [ftrdnwswnd] [ndstrls] [scrtytrcs]

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.