WALL TOWNSHIP, N.J., March 8, 2011 /PRNewswire/ -- Coates International, Ltd. (OTC Bulletin Board: COTE) – Coates International Ltd. (the "Company") is pleased to announce that on March 8, 2011 the company received notice that contracts are expected to be completed by the end of this month.
- These contracts specify that Coates International, Ltd. will construct and set up a complete turnkey electric power plant in one of the Arab countries. The Coates designed power plant and electric power generators operate on flare off gas that would otherwise be wasted and flared off into the atmosphere.
- The essential companies that will participate in this project are:
- Luz Construction, Inc. industrial contractor
- Jersey Shore Automation, Inc. electrical engineering, fabrication, and installation.
- Almont Energy, Inc. of Alberta, Canada natural gas electric power industrial generator installation.
- There are other companies involved.
- Coates International, Ltd. will manage the entire project.
- The duration of this project is 24 months the estimated amount for the project is $400,000,000 USD.
- There are more of these flare off gas electric power generating plants being negotiated in other locations and countries by management.
- Coates International, Ltd. must start mass production of its industrial electric power natural gas generators in the USA and China immediately to support the project.
- Just one of these power plants requires 260 Industrial CSRV Natural Gas electric power generators.
About Coates International, Ltd.: Coates has been developing over a period of more than 15 years a patented spherical rotary valve CSRV Internal Combustion Engine invented by George J. Coates and his son Gregory.
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. SEC at http://www.sec.gov
SOURCE Coates International, Ltd.