Arrow Resources Development, Inc. (OTCBB: ARWD) The Company has received a $1,400,000 grant from the Asian Development Bank (ADB) to commence the design planning for two Geothermal Power Plant in Indonesia and the Philippines. This funding for these initial site development plans requires approximately 90 days and site selection has already commenced.
Peter Frugone, CEO of Arrow Resource Development commented, “After two years of planning, we are finally ready to start operations that will have a profound environmental impact on Indonesia and will eventually lead to significant financial gains for the Company.”
About Arrow Resources Development, Inc.
Arrow Resources Development, Inc. develops and coordinates corporate operations, finance, sales and marketing activities along with administrative activities, both in the Unites States and Indonesia and manages the corporate citizen program for this natural resource development company in the Asian market. Its relationship with Arrow Pacific Resources Group Limited (BVI Company) is for the development of large scale plantation, farming and geothermal operations in Indonesia. The Joint Venture partners include Arrow Pacific, Gerakan Masyarakat Pelestari Lingkungan Hidup (GMPLH), one of Indonesia’s larger non-profit organizations and PT Tiga Daun (Indonesian company owned by Arrow Pacific’s Indonesian operating Company). Arrow Resources’ agreements entitle the Company to 10% of all gross revenue generated by all their partners’ plantation/farming including any and all sales of natural resources and derivative products.
Safe Harbor: Statements regarding financial matters in this press release other than historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company’s future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the Safe Harbors created thereby. The Company is a development stage firm that continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company’s actual results may differ materially from expected results. For more information about the company, please visit their website at www.arrowrd.com.
CONTACT: Investor Relations, Charles Moskowitz, +1-212-262-2300, firstname.lastname@example.org
Web Site: http://www.arrowrd.com
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Filed under: Business
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