Govt
set to build steel, smelter plants
Port Spain
Petroleumworldtt.com
01 27 08
Government is moving full speed ahead to build
the Essar Steel plant and the Alutrint smelter,
this year, despite agitation from environmental
activists.
Minister of Energy and Energy Industries Conrad
Enill and president of the National Energy Corporation
Prakash Saith, yesterday insisted that construction
of both plants would begin early this year.
Protesters including University of the West Indies
lecturer Wayne Kublalsingh and geophysicist Dr
Peter Vine have been opposing the construction
of the plants. They have been calling for a cost-benefit
analysis of the two plants.
Despite several requests for meetings and several
attempts to get the information under the Freedom
of Information Act, the cost-benefit analysis has
not been forthcoming.
Enill and Saith made their statements
during addresses at the official commissioning
of two NEC tugs—the
NEC Spirit and the NEC Pride—at the Point
Lisas port.
Saith said that several agreements
have been signed to pursue the country’s
industrial development thrust.
These included agreements with Westlake Chemicals
for a polyethylene project; ISEGEN for a Maleic
Anhydride project; and Lurgi and Basell for the
development of Ggs to polypropylene project to
produce plastic resins.
“In addition, the business development team
is involved in facilitating the development of
the Alutrint smelter and downstream project, the
Essar Iron and Steel project,” Saith said.
He added, “Both plants are expected to start
construction in early 2008.”
Saith said that NEC has become the dominant service
provider in the local towage market with over 50
per cent of the market.
He said, “NEC has grown exponentially over
the years as evidenced by the increase of its after
tax profitability from $14.5 million in 1998 to
$100 million in 2007.” He said that growth
will continue in 2008, predicting that net profit
after taxes will be $125 million.
Meanwhile, Enill said work is also
continuing with Government’s West African
initiative. He said Government is facilitating
the creation
of more downstream opportunities for manufacturing
and aluminium, iron and steel industries.
Speaking to reporters after the function, Enill
said that he was open for discussions with the
activists protesting the development of the Essar
Steel plant and the Alutrint smelter.
He said that consultations have been held and
extensive information supplied about the benefits
of the Essar Steel plant and the Alutrint plant.
However, he said that certain commercial information
could not be divulged because of legal contracts.
Story by Radhica sookraj from The Trinidad Guardian
The
Trinidad Guardian
Tuesday 22nd January, 2008
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