Altenesol, AMCS finalise LNG plant contract

IAHL Corporation announced that its subsidiary Altenesol has finalised the contract with AMCS Corporation for a lump sum turnkey (LSTK) equipment procurement and construction (EPC) for Nataly 1 LNG Plant in El Viajano, Colombia. This is an important milestone, which defines the entire construction process identifying key aspects that will trigger the draw down process against construction funding. The contract covers project timetables, insurance liabilities, contingencies and remedies for potential problems as well as penalties and rewards for timely execution.

The AMCS team is working closely on all aspects of the project drawing from their experience in the Global market. “We’ve had a very positive experience working with Altenesol in this project. We believe that the combination of our technology, international project experience and Altenesol’s pioneering vision for the LNG market in this region provides a compelling and powerful solution for the region’s increasing demand for clean energy”, said Ishmael Chalabi, CEO of AMCS Corporation.

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