MIS Co. Ltd. Inc. (NOTC:MISC) receives order for the construction of Atlantis Gas Plant from Ras Al Khaimah Gas Commission (RAKGAS) with an estimated value of USD 16 million

MIS has received Letter of Intent for the construction of the second train gas processing facilities at the existing Rakgas plant site at Khor Khwer, Ras Al Khaimah, UAE.

This new plant will process 90 million standard cubic feet gas from Umm Al Qwain offshore gas reserves being developed under a long term agreement between Ras Al Khaimah Gas Commission (Rakgas), a wholly owned RAK Government Company and Atlantis Holding Norway AS (Atlantis)

MIS will supply piping bulk materials and undertake multi disciplinary construction of the new facilities which will receive, dehydrate, sweeten compress and deliver the processed sales gas to local consumers.

MIS scope involves site clearing, civil works, foundations, installation of equipments and skid mounted process packages, mechanical, piping, electrical, instrumentation and commissioning assistance under a re measurable unit rate contract valued approximately USD 16 Million.

The contract is estimated to be concluded by December 2007.

Jerry Smith, MIS Managing Director stated, “RAKGAS is one of the most important and long term clients of MIS and we are delighted to receive another order to continue our relationship. MIS over the years have undertaken a range of greenfield and brownfield construction and maintenance works for several clients in the region and the award of this project will help us build upon our track record and increase our order book to USD 303 Million.