Monday 4 November 2019

InfraStrata plc, the UK quoted company focused on strategic infrastructure projects, announced the completion of October 2019 milestones at the Islandmagee Gas Storage Project in Northern Ireland.

With these milestones now complete, management is working closely with the Northern Ireland Environment Agency ("NIEA") and the Department of Agriculture, Environment and Rural Affairs ("DAERA") to finalise the timelines for the final activities related to the full marine licence. Once this process has been completed, the Board will release the revised construction tender documents to ensure that they include the most up to date information.

In addition, the Board continues to make progress in its negotiations with equity and debt partners with the aim of taking Final Investment Decision for the Islandmagee Project by the end of the year.

John Wood, Interim Chairman and CEO of InfraStrata, said:

"We are delighted to have maintained momentum on our flagship Islandmagee Gas Storage Project whilst also progressing our planned acquisition of the assets of Harland & Wolff. We are making solid headway towards beginning construction of this critical gas storage project in 2020. Work also continues at pace to finalise the Gas Storage Agreement with Vitol SA. Once complete, the Project will dramatically enhance the UK's energy resilience."

More information here.