VANCOUVER, BC, April 21, 2021 /CNW/ - BYT Holdings Ltd. (CSE: BYT) (" BYT " or the " Company ") is pleased to announce that its associated company, Xi'an Triumph Electronic Technology Co., Ltd. (" Xian Tech "), has entered into a contract with China Railway Tunnel Group Co., Ltd. (" China Railway ") relating to the construction of the China-Russia East Route Natural Gas Pipeline (the " China-Russia Project "). China Railway is the eminent tunnel construction company in the People's Republic of China . The China-Russia Project will involve constructing a tunnel under the Yangtze River. Xian Tech has a long-standing working relationship with China Railway and will utilize its core product, Athena V1.0, to develop a big data engineering platform that will provide comprehensive and real time monitoring of the safety, quality and progress of the construction of this under water tunnel.
The Company expects that the China-Russia Project will accrue economic benefits and have positive scientific and technological developments.
About BYT Holdings
BYT's operations are based out of Singapore , with its primary business being to provide one-stop turnkey engineering, procurement, and construction management solutions that range from consultancy and design, to the construction of projects involving high technology production facilities, primarily in Singapore and mainland China . BYT is also developing its waste management services division in Shanghai, China , which focuses on converting waste into organic compost.
ON BEHALF OF BYT HOLDINGS
"Sunny Li"
Sunny Li
Executive Chairman
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements. Forward-looking statements can be identified by the use of words such as, "expects", "is expected", "anticipates", "intends", "believes", or variations of such words and phrases or state that certain actions, events or results "may" or "will" be taken, occur or be achieved. Forward-looking statements include those relating to the construction of the tunnel under the Yangtze River, the utilization of Athena V1.0 to monitor the tunnel, and the accrual of economic benefits and positive scientific and technological developments. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances. Such assumptions include: the completion of the tunnel by Xian Tech and the ability of its management to effectively implement its software monitoring technology with respect to the tunnel.
Actual results, performance or achievement could differ materially from that expressed in, or implied by, any forward-looking statements in this press release, and, accordingly, you should not place undue reliance on any such forward-looking statements and they are not guarantees of future results. Forward-looking statements involve significant risks, uncertainties and other factors that may cause actual future results or anticipated events to differ materially from those expressed or implied in any forward looking statements including (but not limited) to risk factors such as, general economic and market conditions; and Xian Tech's management's ability to execute and complete the terms and conditions of the contract. Except as required by law, BYT undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE BYT Holdings Ltd.
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