WALL TOWNSHIP, N.J., March 1, 2011 /PRNewswire/ -- Coates International, Ltd. (OTC Bulletin Board: COTE) - Coates International Ltd. (the "Company")
- The Coates inventors have completed the design of a turnkey electric power plant for Dubai, UAE (United Arab Emirates). This calls for approximately 250 Coates CSRV Industrial Natural Gas Electric Power engine generators that will put out up to 400 MW. These units are expected to be manufactured in China to the Coates CSRV specifications.
- The state of Oklahoma incentive deal is still on the table. The estimated value of the State and Federal incentives with quality jobs cash incentive is $787,526,057, with investment/new job tax credit package $779,159,557, and start up funding is still needed of approximately $300,000,000 for this project to begin. This could create up to 1,000 new quality jobs.
- The Dubai project is in process.
- The Chinese deal is in process.
- The Company is working to get more Industrial CSRV Natural Gas Electric Power engine generators delivered to Almont Energy, Inc. in Alberta, Canada this month.
- The Company is also talking with other states regarding setting up large mass production manufacturing plants in the USA.
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.