$58.8
billion
in projects flow downstream
PORT SPAIN
Petroleumworldtt.com
03 02 08
B projects flow downstream
Tuesday, February 26 2008
ESTIMATED COSTS for
development projects in the downstream energy sector
to be completed between 2008 and 2013 stand at
$58.8 billion, National Energy Corporation business
development head Dr Vernon Paltoo said yesterday.
According to Paltoo, industrial estate development
is estimated at $2 billion, port development $1.8
billion and proposed projects /process plants at
$55 billion.
The construction of the Point Lisas South and
East Industrial Estate is estimated at $290 million
and its related port $660 million; the Oropouche
reclamation project, $1.4 billion and the Alutrint
industrial port, $250 million.
President
of the South Trinidad Chamber Dr Rampersad Motilal
called on the Government to list the benefits
of the proposed refinery to be built at Petrotrin’s
Pointe-a-Pierre complex which is estimated at US$4
billion.
“While
investments in the local energy sector are always
welcome, this will represent the largest
single capital investment in any local petrochemical
complex. We expect to hear more from (the) Government
on the benefits of this investment, its plans to
achieve competitiveness and how this project fits
into the overall development plan for the sector.”
Highlighting “the noticeable absence” of
energy companies on the local stock exchange, Motilal
also called on the Government to establish an appropriate
framework for local energy industries to be placed
on the exchange.
Paltoo
and Motilal spoke at the South Trinidad Chamber’s 2008 Petroleum Conference which
continues today at the Hilton Trinidad, St Ann’s.
Story from Trinidad & Tobago
Newsday
Trinidad & Tobago Newsday
Tuesday, February 26 2008
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