Estate to offer warehousing in 2017

Speaking at the company’s 50th anniversary awards ceremony in Centre Point Mall in Chguanas on Saturday, PLIPDECO chairman Ian Atherly said “while expansion of the port will remain one of the cornerstones for future development, establishment of warehouses services will be a major part of the 2017 plans.” Atherly said the local and global economic downturn has resulted in a 25 percent decrease in the volume of cargo passing through the Point Lisas Port, but the company has still managed to maintain profitability through “through a programme of prudent fiscal management and cost control.” In August, PLIPDECO recorded a $16.1 million decrease in profits, but Atherly displayed confidence in the company’s strength.

After being established on September 16, 1966 by a group of southern businessmen eager to industrialise the country, PLIPDECO, as owner and landlord of the Point Lisas Estate, has grown to house over 100 companies.

“This has culminated in our current position whereby the industrial estate is the largest of its type in the region with the largest methanol plant in the world, that is the M 5000,” said Atherly.

“And the overall estate methanol production, placing Trinidad and Tobago as the largest global producer.” Amonia exports out of the estate has also positioned the country as the largest exporter of ammonia in the world.

The port handles the majority of the country’s import and export cargo, said Atherly, and recorded its best years in 2014 and 2015. “In 2015, the port handled over 221Twenty-Foot Equivalent Units (TEUS), representing the highest throughput in the port’s history and the second time in the corp’s history that the 200TEU mark was achieved, the previous year 2014 being the other occasion.” “Overall, we are quite proud of what we have accomplished and it is indeed an honor to be able to pay tribute to the 300 plus employees who are to receive awards today.” Also attending was Works and Transport Minister, Rohan Sinanan, who congratulated PLIPDECO on its 50 years of success. “I am always happy when time is taken to honour persons who have worked hard and shared their knowledge and experience in whatever position they hold in the company to ensure the prosperity of the company...I cannot close without congratulating PLIPDECO and its management for doing a wonderful job in running one of the flagship ports in the Caribbean.”