China Security & Surveillance Signs Safe City Project Framework Agreement with Qingzhou City

SHENZHEN, China , April 28 /Xinhua-PRNewswire/ -- China Security & Surveillance Technology, Inc. (NYSE: CSR)('CSST'), a leading provider of security solutions in China , today announced that it has signed a framework agreement valued at approximately RMB 200 million (approximately $28.6 million) for a 2nd phase safe city project with the government of Qingzhou City in Shandong Province . This agreement is a result of the successful implementation of the 1st project phase last year. A detailed agreement relating to the payment terms and actual scope of works will be determined at a later date.

Phase 1 of this project, valued at approximately RMB 12 million, involved the installation of a traffic monitoring system and installation of surveillance cameras deployed within one district in Qingzhou City.

Phase 2 of this project involves an expansion of the installations, including traffic monitoring systems and surveillance cameras and network control centers, to other districts within Qingzhou City.

Qingzhou is located in Shangdong Province and has a population of roughly 900 thousand people. CSST proudly signed the framework agreement with Qingzhou City and will continue to develop and expand the installation of the traffic monitoring and public security surveillance system which was built up in the 1st phase. The Company expects to recognize the majority of the revenues from this second phase in 2009.

Mr. Guoshen Tu, Chief Executive Officer of CSST commented, "We are very pleased that the phase 1 project with Qingzhou City accomplished last year resulted in a larger and more comprehensive phase 2 project within the same city. We are proud that Qingzhou City's local government is recognizing our ability to deliver a comprehensive security and surveillance solution. We look forward to obtaining similar projects in the near future."

About China Security & Surveillance Technology, Inc.

Based in Shenzhen, China , China Security manufactures, distributes, installs and maintains security and surveillance systems throughout the PRC. China Security has manufacturing facilities located in China and an R&D facility which maintains an exclusive collaboration agreement with Beijing University. China Security has built a diversified customer base through its extensive sales and service network that includes numerous points of presence throughout the PRC. To learn more about the Company visit http://www.csst.com .

SOURCE China Security & Surveillance Technology, Inc.



Loading