BioShaft Water Technology Inc. (OTCBB: BSHF), developer of innovative wastewater treatment technologies, today announced it has secured an agreement with Al Tawfeeq, a wholly-owned subsidiary of Qatar-based Al Hashemi Group.
Per the agreement, Al Tawfeeq will provide BioShaft with a local contact, which will familiarize the company with the opportunities for wastewater treatment plants in Qatar. Al Tawfeeq will assist BioShaft with the submission of tenders, strategies on participation, and assistance with staffing in Qatar’s market. Al Tawfeeq’s networking will help the company secure its business operations in Qatar state.
“This agreement with Al Tawfeeq gives us a local presence in Qatar with a well established company. They will assist us with potential bid opportunities and work with BioShaft to establish a presence in the region so that we can build our business in Qatar,” Dr. Hans Badreddine, CEO of BioShaft stated in the press release.
In addition, Al Tawfeeq will assist in plant and material importation, material sourcing and the selection of subcontractors, such as Al Hashemi, a leading contracting company specializing in construction activities, oil and gas services, infrastructure and utilities based construction. The company has contributed to more than 18 sewage treatment projects ranging in size from US $3 million up to US $30 million, generating about US $500 million in annual revenues.
“We live in one of the driest region of the world where water is a very valuable resource. Our association with professional and efficient water recycling systems such as the one produced by BioShaft will particularly contribute to the protection of this valuable resource and generally enhance the environmental protection endeavor; an aim which is globally pursued,” Ahmad Al Hashemi, president of Al Hashemi Group stated.
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