Zachry Holdings, Inc. and some subsidiaries including Zachry Industrial, Inc. (Zachry), a Joint Venture (JV) partner of Chiyoda International Corporation (CIC), a wholly owned subsidiary of Chiyoda Corporation headquartered in Houston, Texas, to execute the Golden Pass LNG project (Project) in Texas, USA, filed for Chapter 11 relief under the United States Bankruptcy Code on May 21, 2024 (Local time).
Following the provisional approval of the interim order associated with Zachry’s motion in the bankruptcy court on July 25 2024 (Local time), the court gave a final approval on August 12, 2024 (Local time). With this approval, Zachry’s withdrawal from the Project has been officially confirmed.
CB&I LLC, the other JV partner, and CIC will accelerate the discussion with Golden Pass LNG Terminal LLC (GPX), the Project client, for a long-term construction completion plan for GPX’s approval and amendment of the EPC contract to resume the Project at full scale.
