Yulong Eco-Materials Limited (YECO), a producer of fly-ash bricks and ready-mixed concrete, said Thursday that it has signed an agreement to process and recycle construction waste in Zheng Dong New District of Zhengzhou City in Henan, China.

Under the four-year agreement, Yulong will service each of the district’s 28 administrative villages as may be assigned by the district’s construction office with total potential revenue of over $35 million. The company already commenced work in the village of Gaozhuang, where the company expects to generate nearly $1.4 million in revenue.

Shares were 12.7% higher in recent morning trade, moving in a narrow band of $3.57 – $6.80.

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