MicroCoal Technologies Receives $1,320,000 in Progress Payments

MicroCoal Technologies Inc. (CNSX:MTI,FWB:OFS.F) reported that it has received USD $1.32 million for agreements between the Company and PT Wijaya Tri Utama for the purchase and construction of a MicroCoal clean coal upgrading facility in Indonesia.

As quoted in the press release:

The completed contract price is USD $6,000,000. In addition to the agreed contract price, MicroCoal(r) will receive an annual royalty fee of $360,000 (6% of the construction price) for a period of six (6) years after completion, plus maintenance fees.

Click here to read the MicroCoal Technologies Inc. (CNSX:MTI) press release