Govt looking at $1.4B plastics complex

Saith, whose portfolio also includes Public Administration and Information, was formally opening the Savonetta Pier 2 North at Port Pt Lisas as well as naming and commissioning the NEC Legacy and NEC Industry — two tugs — on Wednesday at a function organised by the National Energy Corporation (NEC), at Port Pt Lisas.

He added, “The Government has decided that all new proposals in downstream natural gas must produce higher value product. Consequently, we have approved proposals for the construction of plants to produce melamine, urea-ammonia nitrate and acetic acid.”

Saith said Government was currently “exploring the feasibility of a US$1.4 billion polypropylene complex — as a major industrial base in plastics — to generate downstream investment in consumer products like film for packaging food, toys, automotive parts and appliances.”

He pointed out that two projects receiving the endorsement of Government were the development of the aluminium smelter plants — one at Cap-de-ville, Point Fortin, and the other at Union Estate, La Brea.

He noted that the Alutrint Project was well advanced and there was recently the signing of engineering, procurement, and construction contract and a technological agreement with technology providers, the Chinese Mechanical Engineering Corporation (CMEC).

He said the Alutrint Plant would utilise 100 percent of the aluminium produced for downstream industries in Trinidad and Tobago. Saith said Government had signed an agreement in principle with Alcoa for the start of preliminary work and negotiations related to establishment of the 341,000 metric tonne facility. He said the local iron and steel industry was being revitalised and that Nucor had tabled a proposal “to take their operations here further downstream.”

According to Saith, “downstream activity will also emanate from the construction by Essar — an Indian company — of a US$1.2 billion integrated iron and steel complex, an investment which will involve inter alia, the manufacture of all steel plates that can be used to make tubes — a project which signals an important new development in the domestic steel industry.”

He said that the Pointe-a-Pierre refinery was being “upgraded to supply high quality clean fuels to the local, regional and international markets and that eight major plants, along with associated utilities and supporting units, are now either under construction or refurbishment as part of a three-year gasoline optimisation programme.”