16 Dec 2020 07:00
16th December 2020
InfraStrata plc
("InfraStrata" or the "Company")
Islandmagee Gas Storage Project - Water Abstraction Licence, Discharge Consent & Marine Licence Update
InfraStrata plc (AIM: INFA), the UK quoted company focused on strategic infrastructure projects and physical asset lifecycle management, is pleased to provide an update to the market in relation to the Water Abstraction Licence, Discharge Consent, and subsequent Marine Licence application.
During recent weeks, the Company has been in discussions with the various regulatory authorities in relation to the existing Abstraction Licence, Discharge Consent & draft Marine Construction Licence. Whilst the Company does not necessarily agree that further review is required (on the basis of legal advice received) it has agreed, as a prudent operator, with the relevant authorities that an additional period of review will be undertaken in relation to the existing Abstraction Licence and Discharge Consent, which will complement the overall Marine License. The advertised documents will contain no material change from those previously provided.
The advertisements will be placed shortly and no further information or in person consultations will be required by the Company. After this process has been completed, it is likely that a determination on the Marine License will be made in approximately Q1 2021. Whilst this process and decision making is not within the Company's control, this is the Company's current view on timescales, following the recent agreements that have been reached with the authorities.
John Wood, Chief Executive Officer, commented: "Having enjoyed productive discussions with the authorities to reach a mutually agreeable way forward, it is good to gain some clarity around the timescales and see the process moving forward to enable a determination on the Marine License being made.
We remain firmly committed to see this project constructed and help provide Northern Ireland, the Island of Ireland and the wider UK with security of energy supply for the future in an environmentally compliant way."
For further information, please visit www.infrastrataplc.com or contact:
InfraStrata plc John Wood, Chief Executive Seena Shah, Interim Head of Marketing & Communications
| +44 (0)20 3900 2122 media@infrastrataplc.com
|
Cenkos Securities plc (Nominated Adviser & Broker) Stephen Keys (Corporate Finance) Michael Johnson (Sales)
| +44 (0)20 7397 8900 |