Govt
committed to ethylene industry
Port Spain
Petroleumworldtt.com
01 20 08
PRIME
MINISTER Patrick Manning has reaffirmed Government’s
commitment to the establishment of a local ethylene
and polypropylene industry
in this country despite rising international capital
costs for construction of similar plants.
In
a statement from the Office of the Prime Minister
at Whitehall last Friday, the Prime Minister said: “Government
considers establishment of an ethylene and polypropylene
industry a pre-requisite towards a modern industrialised
state.”
On Friday, Manning held talks with Westlake Chemical
president Albert Chao about the establishment of
such an industry in Trinidad and Tobago. Chao updated
the Prime Minister on the status of the Westlake
project and informed him that rising international
capital costs for the construction of similar plants
around the world was the main challenge to moving
forward with the establishment of the local manufacturing
industry.
Manning
took note of the constraints outlined by Chao
and indicated that discussions and consideration
would begin on how to overcome challenges in light
of this. The Prime Minister gave the commitment
that this issue would be tabled at the Cabinet’s
Standing Committee on Energy. The establishment
of a local ethylene and polypropylene industry
is one of several industries identified in the
ruling PNM’s 2007 election manifesto as part
of its industrialisation thrust. Other key industries
include the Alutrint Complex in La Brea and the
Essar Iron and Steel Complex in Point Lisas.
Story
from Newsday
Newsday
Monday, January 14 2008
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