NEC
in $3.5 billion development programme
Port Spain
Petroleumworldtt.com
01 20 08
The National Energy Corporation of Trinidad and
Tobago Limited has embarked on a $3.5 billion programme
aimed at meeting the demands of the nation's energy
industry.
The plan includes the construction of new ports,
identifying and developing new industrial estates,
installation of marine and other infrastuctural
assets to facilitate gas based petrochemical and
metal plants and the promotion of new energy based
downstream industries that will be located on several
new industrial estates.
Expansion to the towage and harbour operations
are included in the programme.
NEC
president Prakash Saith told Business Express, "We
propose to spend $1.9 billion on estate development,
and $1.84 billion on port development."
He said some of the projects already had started,
and others will come on stream before the end of
this year.
Saith said state-owned NEC has been mandated by
Government to construct new industrial estates
and port facilities, and the projects will be carried
out over a five- year period (2008-2013).
Saith said a new industrial estate comprising
approximately 1,724 hectares will be located one
kilometre south and east of the existing Point
Lisas Estate.
"Major tenants to be accommodated on this
estate are Essar Steel, Westlake Chemicals, Carisal
and Isegen," Saith said.
He
said engineering designs and Environmental Impact
Assessment studies will be completed by
the middle of this year, and "as soon as we
receive the Certificate of Environmental Compliance
from the EMA construction will begin."
The estimated cost of the new estate at Point
Lisas is $290 million.
Other estates earmarked for this year includes
one at the Oropouche Bank at Otaheite.
Saith
said: "Tenders for the design of this
offshore estate has been received and are now being
evaluated. Construction is anticipated to start
in 2009 and it will be done in phases."
Estimated cost of reclamation in the Oropouche
Bank is $14.3 million.
Work is taking place on Union Industrial Estate
which will accommodate new tenants such as Alutrint,
Ansa Terra, and a power plant to service other
industries which will be located on the estate.
Saith
said: "Since the formation of the NEC
in 1979, we have produced outstanding results.
In 2005, we made a profit before tax of $93.8 million
and in 2006, $112,007. We expect our profits for
2007 to be better than the previous year."
Saith said that in addition to projects designed
to accommodate the needs of the energy sector,
the company donated $2.5 million to the University
of Trinidad and Tobago for the construction of
a pier to be used in the university's marine training
programme.
Story by
Louis B Homer from
Trinidad Express
Trinidad
Express
Thursday, January 17th 2008
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