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InfraStrata" or the "Company") Islandmagee Gas Storage Project - Issue of Invitation to Tender InfraStrata plc (AIM: INFA), the UK quoted company focused on the development of natural gas storage capacity, is pleased to announce that it has today issued an ITT (Invitation to Tender) package for its Islandmagee gas storage project (the "Project") in order to appoint an EPC (Engineering, Procurement and Construction) contractor for construction of the Project. The issuing of the ITT follows on from the recent completion of the FEED (Front End Engineering Design) and the invitation for expressions of interest in construction of phase 1 of the Project that was issued in September. The expressions of interest received have been evaluated and highlighted the following organisations who have been selected to be included within the ITT round: · WSP · SNC-Lavalin · Saipem · Petrofac · Fluor · Costain The ITT includes a package for all surface, subsurface and integration works required to develop the Project. The Project works have been split into phase 1 (two caverns) and phase 2 (six caverns) for a total of 8 caverns and therefore, it is expected that the contract will be awarded in two staged phases in line with the planned construction phases. There is no guarantee that by running this ITT process InfraStrata will find an EPC contractor with which it is able to reach mutually agreeable terms. The date for receiving ITT returns from potential EPC contractors has been set as 28 February 2019, providing eight clear weeks to formulate responses. InfraStrata is also in the process of finalising the ITT documents for the Owners Engineer package required to oversee the selected EPC contactor. It is expected that package will be issued in the new year. John Wood, Chief Executive Officer commented: "We are happy to have released the ITT package before the end of 2018, to ensure that we receive offers back in the early part of next year. Selecting an EPC contractor will be an important step on our road to final investment decision (FID) by the end of H1 2019." Further updates will be provided in due course.
The expressions of interest received have been evaluated and highlighted the following organisations who have been selected to be included within the ITT round:
· WSP
· SNC-Lavalin
· Saipem
· Petrofac
· Fluor
· Costain
That's a pretty impressive list that have been selected :))
So these 6 must have all given a letter of intent prior to this stage also then :0
Some big boys in there :0!!
Some big names on that list and another excellent update. One bluechip has already issued a LOI for offtake and 6 more still at the table. Gov grant for upto £40m of funding submitted, FEED completed, Islandmagee given PCI status and updates on financing discussions expected near term.
Looks good to me. Just need the finance news now