RE: Infa7 Feb 2019 07:03
7 February 2019
InfraStrata plc
("InfraStrata" or the "Company")
Islandmagee Gas Storage Project - Issue of Invitation to Tender Owner's Engineer
InfraStrata plc (AIM: INFA), the UK quoted company focused on the development of natural gas storage capacity, is pleased to announce that it has issued an Invitation to Tender ("ITT") package for its Islandmagee gas storage project (the "Project") in order to appoint an Owner's Engineer contractor to oversee the construction of the Project. The Owner's Engineer is a role undertaken to protect the owner's interests by ensuing that the EPC contractors are adhering sufficiently to the project specification, contract and timeline. In this case it will also avoid delay and cost involved in setting up a directly employed owner's engineering team.
The issuing of the ITT follows on from the recent completion of the FEED (Front End Engineering Design) and the issue of the ITT for the EPC (Engineering, Procurement and Construction) contractor as announced on 18 December 2018. We have released the Owner's Engineer ITT document to the following organisations:
· WSP
· ATKINS
· MOTT MCDONALD
· WORLEY PARSONS
· FLUOR
· COSTAIN
· JACOBS
The ITT includes a package to oversee 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 Owner's Engineer ("OE") contractor with which it is able to reach mutually agreeable terms.
The date for receiving ITT returns from potential OE contractors has been set as 15 March 2019, providing five clear weeks to formulate responses. InfraStrata has received requests for an extension to the return period for the EPC ITT that it is currently running from more than one of the potential contractors, and it has therefore agreed to move that return date to 15 March 2019.
John Wood, Chief Executive Officer commented: "We are happy to have released the ITT package for the Owner's Engineer early this year as planned, ensuring a good high quality Owner's Engineer is appointed who is aligned to the Project, which is essential to ensure we bring the Project in on time and within budget. Selecting an Owner's Engineer contractor will be an important step on our road to final investment decision (FID) by the end of H1 2019."
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