ORLANDO, Fla., Oct. 16, 2015 (GLOBE NEWSWIRE) -- IAHL Corporation (Other OTC:IAHL) is proud to announce that its subsidiary, Altenesol Colombia S.A.S. has acquired the necessary permits to begin Site Preparation for the Nataly I LNG plant and construction in accordance with all protocols of “La Corporacion Autonoma Regional de los Valles de Sinu y de San Jorge” (CVS) in Colombia. In consequence, deforestation and water exploration which encompasses the site drilling of the water well for cooling purposes will allow the beginning of the construction Phase I and II of Nataly I for Train one as per the AMCS EPC signed contract.
“This has been the result of perseverance and hard work with the support from Bioparque Corporation, Canacol Energy, the Altenesol team in Colombia and the local regional officials who see this project as a venue to create much needed jobs in the region as well as its industrial development. When pioneering a selected niche, the logistical challenges involved in creating this historical endeavor define Altenesol and its values as an Alternative Energy company. We have the visionary mindset of creating paths rather than following them. The results of our efforts will be beneficial for our investors, shareholders, the country of Colombia and the communities of the region. These permits will allow the equity and debt financial closing to move forward hence they are the key to conclude this process,” said Nelson De La Nuez C.E.O Altenesol/IAHL.
The Altenesol and AMCS teams along with the Canacol technical support team met at the Plant Site during the month of September of 2015 to discuss logistics, the 6 inch flow pipeline from Jobo Station to the Plant and to give all parties a personal walk through of the plant location and marked areas of proposed buildings and equipment locations. The proximity to Canacol’s Jobo Station will result in a minimal length pipeline directly to the LNG plant transporting the required NG for total production and energy needs.
Final off-take negotiations for the second 180K GPD of LNG are in the process with several potential off-takers to bring on-line a total of 2 trains with full output of 360K GPD level. Final numbers will be based on the execution of all aspects of the revenue stream as applied to each contract. Previously stated revenue on production will bring the company into a position to up list and increase our market awareness. We feel this will dramatically increase our liquidity producing very attractive financing terms for any future expansions. This is a process that takes time and we thank our shareholders, investors and project developers as we build a global market presence.
The foundation in place during Phase I & II will result in a faster ramp up for Phase III which will expedite future expansion as shown in the LNG Site Plan rendering in the link below.
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Certain information included in this press release constitutes forward-looking information under applicable securities legislation. Such forward-looking information is provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect. Although IAHL believes that the expectations reflected in such forward-looking information is reasonable, undue reliance should not be placed on forward-looking information because IAHL can give no assurance that such expectations will prove to be correct.