Billion-dollar
Essar
steel
plant
coming
Port Spain
Petroleumworldtt.com
21 07 07
Trinidad and Tobago stands to benefit some US$1.5
billion in foreign exchange during the construction
of the proposed Essar steel plant at Savonetta.
"On completion of the plant, the company
expects to earn over US$1 billion in foreign exchange,
based on price trends of steel," says Prem
Singh, Head of Human Resources and Administration
of Essar Steel Caribbean Limited.
Singh
said: "The Iron and Steel Complex planned
for Savonetta will comprise a pellet plant, two
hot briquetted iron plants and a hot roll coil
plant."
With the availability of flat steel produced by
the new company multiple avenues will be available
for downstream investments.
"The Essar Complex will consist of a pellet
plant, two hot briquetted plants and a hot roll
coil plant," said Singh.
Some of the items that downstream investors will
be involved in are the production of automotive
parts, ship building containers, storage tanks,
cold rolling mills, refrigerators, washing machines,
and office and household furniture.
Singh said the complex is expected to assist in
opening up opportunities for potential investment
and development of various trades and services
such as shipping, logistics, plant operations and
maintenance.
Singh said some 5,000 people would be employed
during construction, and on completion the plant
will employ 1,750 persons.
Singh said the proposed plant will be similar
to one existing in Hazira, India, where the company
has the largest gas based plant, with a production
capacity of 3.5 million tons per annum.
He
said the decision of the company to invest in
a steel plant in Trinidad was based on "the
availability of natural gas at competitive prices,
a strategic location, a political system that is
stable, and it is the most industrialised nation
in the Caribbean."
"In
addition, we took into account the proximity
to the American market, and there are no cultural
barriers."
Singh said some of the benefits in locating the
plant at Savonetta include its closeness to the
raw material. All infrastructural requirements
are available and the factory will be located close
to an industrial estate.
Singh
said Essar received its Certificate of Environment
clearance in August 2006. "It was the culmination
of rigorous scrutiny by the EMA."
Singh
said the Environment Impact Assessment reports
were kept in the public offices for 30 days at
five locations to enable the public to view the
documents and the proposed plans and provide their
feedback."
According to the terms of the certificate, the
company has been mandated to maintain a buffer
zone between its operations and the residential
communities.
He said that on the southern boundary there will
be a 50 metre buffer zone and no structures will
be built or operations carried out within this
area.
Singh added that high on the list of priorities
is the environment and the communities close to
the plant.
"No
one would be displaced from the lands they now
occupy. Community development is one of
the important aspects the company hopes to carry
on during its operations."
Singh
said: "We will be implementing world
class practices for environmental management including
ISO 14001."
He said the company will establish a Dedicated
Environment and Risk Management department.
Carolyn Seepersad- Bachan, who is among a group
protesting the construction of the plant, said
she was shocked to see what was taking place in
the absence of a Certificate of Environment Clearance.
Essar stated that it had such permission since
August 2006.
Singh said that since the company started its
operations it developed an outreach programme consisting
of social and educational offering to the people
in the area.
"As a part of our philosophy on working with
communities our focus is on the environment, health
safety in the communities," said Singh.
Story
by Louis B Homer from the Trinidad Express
Trinidad
Express
Wednesday, October 10th 2007
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