2nd Oct 2019 14:05
(Alliance News) - InfraStrata PLC on Monday said the September milestones at the Islandmagee gas storage project were all completed on time.
Shares in InfraStrata were 9.8% higher at 0.56 pence each on Wednesday afternoon.
The firm also confirmed that milestones falling before the end of 2019 will be reached on time.
Among the September landmarks achieved included the issuing of a draft gas storage agreement, and final tidal, grab sampling and bird monitoring reports.
A final investment decision and the appointment of a company chair are among the milestones scheduled to be completed before the end of December.
Interim Chair & Chief Executive John Wood said: "We are pleased to have completed further milestones for the Islandmagee project as we move closer to commencing construction. It is also positive to see the level of support the project is receiving from key stakeholders and the wider Northern Irish community, who understand the essential need for our project in order to provide security of energy supply, create employment and provide a financial boost to the Northern Irish economy."
By Eric Cunha; [email protected]
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