LGOV NEWS
Largo Vista Begins Supplying Residential LPG Pipeline
Tuesday January 11, 6:00 am ET
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Jan. 11, 2005--Largo Vista Group, Ltd. (OTCBB:LGOV - News) announced today that they have opened the LPG (liquid petroleum gas) supply lines to Project #2 in the Guizhou Province this month. These 550+ households have been installed with western-type gas amenities, and will be supplied with LPG by the company under an exclusive 40-year contract.
"Even though the homes are already sold out, Project #2 has created a few challenges for us. At one point, we decided to halt construction until the government followed through with their contractual commitment," stated Ms. Denise Deng, General Manager for Largo Vista Group China. "The government projects have moved slower than our private developer projects. This is evident since Project #5 is already under construction and supply to Project #2 has just begun. All in all, however, the 2005 year looks very promising for us with the recent 300% stock price increase helping to ease the slow pace of the government."
Largo Vista has been working with the Chinese government in a 40 million-citizen province to switch from coal and wood use to utilizing LPG. Largo Vista Group, Ltd. has six residential pipeline projects under various stages from construction to completion. All of the company pipelines can handle either LPG or NG (natural gas). LGOVs management spearheaded the organization of the first LPG association, Zunyi Gas Association, the members of which helped standardize new guidelines for the LPG market in that region. For more information about the company go to: largovista.com |
