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InfraStrata
- BY: Andrew Hore |
- POSTED: 23/09/2011 |
Gas storage projects developer InfraStrata says that is has started negotiations with a major energy company which is interested in investing in the Islandmagee gas storage facility development project in County Antrim.
The unnamed company is paying £200,000 towards the completion of the purchase of land in return for exclusivity.
InfraStrata owns 65% of Islandmagee and Moyle Energy Investments the rest. The potential partner has until 31 January 2012 to finalise the terms of an agreement. If an agreement is completed then the partner will finance the development of the project until a decision can be made on whether or not to go ahead with the construction of the storage facility. The partner will then be granted an option to “acquire a significant equity interest in the project”.
At 9.3p a share, InfraStrata is valued at £7.28m.
Download the September 2011 edition of AIM Journal at http://www.hubinvest.com/AIMPDFSeptember2011_24.pdf
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