Wowjoint Holdings Limited announced that it signed an agreement with the Zhenjiang City New District government which permits Wowjoint to establish a manufacturing and R&D facility in Zhenjiang City New District. Zhenjiang is located in Eastern China, about 2-3 hours northwest of Shanghai. Wowjoint established a new subsidiary for the property called Zhenjiang Wowjoint Heavy-duty Machinery Co. Ltd. ("Zhenjiang Wowjoint") following the agreement. The new manufacturing facility under Zhenjiang Wowjoint will cover 200,000 square meters of land. Zhenjiang Wowjoint presently owns 48,000 square meters of the land and may purchase the remaining land in stages over the next couple of years. Construction will be split into two phases, with construction commencing in early 2012. Phase one has an estimated completion time of six months, which would be in late 2012. The new manufacturing facility will be focused on producing and providing maintenance services for Wowjoint's launch gantries, lifting equipment, railway transportation equipment and railway testing equipment. In addition, Wowjoint established a new R&D center in Zhenjiang in conjunction with Beijing Jiaotong University's Yangtze River Delta R&D Transportation Institute in December 2011. Zhenjiang City New District government provided Wowjoint with 860 square meters of office building space at no cost to the Company. The new R&D center will concentrate on working with the new manufacturing facility, Zhenjiang Wowjoint, to supply enhanced equipment and services to customers. It will specifically service customers around the Eastern China Yangtze River Delta area, Southern China and international market customers.