Altenesol and AMCS finalize contract to build LNG plant in Colombia

IAHL Corp. announced yesterday that its subsidiary Altnesol LLC has finalized the contract with AMCS Corp. for a Lump Sum Turnkey Equipment Procurement and Construction for Nataly 1 Liquefied Natural Gas (LNG) Plant in El Viajano, Colombia.

This is an important milestone that defines how the construction process will work as it covers project timetables, insurance liabilities, contingencies and remedies for potential problems as well as penalties and rewards for timely execution.

“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,” Ishmael Chalabi, CEO of AMCS Corp. said.

With end-to-end project management, each project will be managed by timelines, budgets and projects assigned by priority from concept to commissioning. Project management also includes design innovation and the ability to create, design, engineer and tailor solutions to create better customer care.

The LNG plant's construction will culminate in three stages. Stages I and II include all necessary equipment for the production of 180,000 gallons per day, as well as other critical components to transition to production of 360,000 gallons per day. Stage III will finalize all facets to fully integrate the 360,000 gallons per day expansion.

ANCS officials say each project has been executed to maximize plant profitability.