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26 JUNE 2018 AL CIRCLE

Trinidad and Tobago to see $23 billion investments in energy and aluminium over next four years

EDITED BY : BEETHIKA BISWAS 2MINS READ

According to a report from Trinidad Guardian citing a “secret” Ministry of Energy document, Trinidad and Tobago could expect $23 billion in investments in the downstream energy and aluminium sector over the next four years.

The projects have the potential to create thousands of jobs during construction and open up more permanent jobs during operations. The document indicates six projects that National Energy is actively pursuing and is planning to complete. The downstream projects are in the field of methanol, polyolefin, aluminium and melamine.

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The projects list includes an aluminium ingot processing wire and cable plant and an aluminium ingot processing plant to make flat rolled product complex. The list also includes a solar park cluster comprising four plants and wind mills. 

The document reads: “The estimated capital investment for these projects is US $3.5 Bn. All of these projects except for the Methanol to Polyolefin Project are expected to use a minimal volume of natural gas.”

The estimated gas usage for the proposed aluminium ingot processing plant to make flat rolls will be circa 14 Million standard cubic feet per day.

National Energy’s email response stated: “National Energy consistent with its mandate from GORTT is currently developing a range of projects in the national interest of Trinidad and Tobago.

The update says since these developing projects are under Confidentiality Agreements with respective stakeholders, no further details on the projects have been divulged yet. Public announcements would be issued by the relevant entities only when the projects reach a specified stage.

Energy Economist Gregory McGuire said that National Energy is pursuing these projects because it shows that there is interest in them from potential investors. According to him, the aluminium projects will require more electricity than natural gas and with the country having excess installed electricity capacity; it would be a good project to invest on. He is of the view that these projects would increase the Government’s revenues and earn valuable foreign exchange.


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EDITED BY : BEETHIKA BISWAS 2MINS READ

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