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IAHL Corporation (Other OTC:IAHL) through its subsidiary Altenesol Colombia, S.A.S is pleased to announce that the next round of funding, for the LNG project in Colombia, has been secured. This initial tranche will be utilized for the following objectives:
1)Completion of the Front End Engineering Design Study (Feed Study) which encompasses engineering scope, design and technology selection and comprehensive financial model;
2)Finalize land purchase, enabling site development and permitting, and
3)Due diligence and transaction expenses.
Several extremely qualified firms, all well versed in LNG and cryogenic plant engineering, design and construction, have been selected to bid on the project. Upon selection of a plant supplier, the project will reach a major milestone which should release the next stage of funding. Each phase of the project will now trigger monetary disbursements as we move to the construction phase of the project.
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