Williams defends proposed smelter

Minister of Energy, Eric Williams, defended the recent MOU between the Government and Alcoa to build an aluminium smelter, saying it would spawn new industries throug-hout the region. He was replying to a motion on the adjournment of the Senate on Tuesday by Opposition Senator Carolyn Seepersad-Bachan who said a smelter might pollute its surroundings and over-consume our resources of natural gas.

Williams responded: “Since I’m a child I’m hearing that resources will run out. Today we have more resources than ever and that will improve because there’s more to be found.” Exploration, he assured, would bring more gas-reserves and more local participation in gas processing. Saying talks were in an advanced state with our energy-rich neighbour he added: “We will seek to monetarise Venezuelan gas in Trinidad and Tobago.” Williams said the price of Alcoa shares had jumped by 1.8 percent, and suggested this was due to the recent MOU. Noting the smelter would cost US$1 billion to set up, he foresaw it producing a huge amount of aluminium per year.

He said the smelter would generate an “entire value chain” in the region including Guyana initially converting its bauxite to alumina to be smelted to aluminium in Trinidad. “Just as Alcoa’s share price has gone up, so to Trinidad and Tobago’s and Caricom’s ‘share price’ will go up because of this activity.” Talking to Newsday afterwards, Seepersad-Bachan, complained Williams had not answered her concerns.