SHENZHEN, China , March 17 /Xinhua-PRNewswire/ -- China Security & Surveillance Technology, Inc. ("Company") (NYSE: CSR), a leading provider of digital surveillance technology in China , today announced that it has won a bid for a Safe City project in Kun Ming City, located in the Yun Nan province, to build out road monitoring and an electronic police system within the city which includes traffic junction and highway monitoring, camera installations in main public areas and traffic walkways.
The total project value of this contract is approximately RMB 209.4 million (approximately USD$29.5 million, based on a conversion price of USD: RMB 1.00:7.10). This is the biggest Safe City project ever won by the Company to date. Project work is expected to commence during the second quarter of 2008. Kun Ming City is located in Southwest China with a population that exceeds 5 million, and is considered by the Company to be a tier 2 city.
Mr. Guo Shen Tu , Chief Executive Officer of China Security, commented, "We are extremely pleased to have landed our largest Safe City contract win to date. We have the proven capability to win large contracts on a standalone basis in addition to working with other high profile partners in China . This contract was largely secured because of our diversified integrated solutions platform, highly experienced operational team, strong brand recognition and efficient pricing. We are well positioned from a competitive standpoint in the China market and are encouraged that we'll continue to increase the size and scale of our contracts going forward."
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.