STATE ENTERPRISES’ INVESTMENT PROGRAMME 2014
14
SUSTAINING GROWTH, SECURING PROSPERITY
65-ton bollard pull tug, a new workboat and a
new fast passenger launch.
• Tugs
– A 15-Ton Bollard Pull Stan Tug
was constructed in China and shipped
to Trinidad by sea freight. The cost of the
Tug is $12.0 million of which $5.4 million
was expended and the balance of $6.6
million is to be paid in the last quarter of
fiscal 2013. The purchase of a new 65-ton
Bollard Pull Tug was deferred to the 4th
Quarter 2014.
• Launch
– A 22 passenger high speed
launch was constructed in Singapore and
shipped to Trinidad by sea freight. The
cost of the Launch Boat is $10.8 million,
of which $1.1 million was expended and
the balance of $9.7 million is to be paid in
the last quarter of fiscal 2013.
Planned projects for fiscal 2014 are as follows:
•
Equity Investment in Chemtech
–
Chemtech Limited initiated measures to
develop a formaldehyde/melamine resins
cluster in Trinidad and Tobago. The estimated
total cost of this project is $1,290.0 million.
NEC has estimated $10.0 million to acquire
equity participation in fiscal 2014.
•
New vessels to support tenders Atlantic
LNG and PETROTRIN
– In order to maximize
business opportunities, NEC proposes to
acquire four (4) 55-65 Tons BP ASD Tugs at
an estimated cost of $230.0 million. The
acquisition of these vessels is targeted
towards support tenders for Atlantic LNG and
PETROTRIN. NEC has projected an amount
of $57.5 million towards this venture for fiscal
2014.
•
Surveying/Dredging of Point LisasChannel
and Turning Basin
– This maintenance
project is required to be undertaken every five
(5) years in order to meet vessels standards.
NEC is required to maintain the chart/
advertised depth of the Point Lisas harbour.
The projection for fiscal 2014 is $24.0 million
to carry out works including engagement of a
dredging company to remove the siltation in
the harbor.
•
Risk Analysis/Market Study for Haiti (Port
of Migroane)
– NEC has projected $1.6
million to participate on a project in Haiti with
NP and PETROTRIN.
•
NEC Building
– NEC has projected
$6.0 million towards the extension of its
administration building to accommodate new
staff for fiscal 2014.
•
PPGPL Access Road
– NEC has projected
$2.5 million for fiscal 2014 to provide access
to PPGPL’s corporate headquarters on lands
leased from NEC.
•
Research Projects
– NEC has projected
$8.5 million for fiscal 2014 to undertake the
following in fiscal 2014:
•
Asset Integrity Study
– The project
objective is to assess the sustainability
of the major marine assets at Point Lisas
and to determine any risks and mitigation
strategies toensureNEC’s revenue source
from port/terminal users are sustainable.
The estimated cost is $5.0 million;
•
Regional Market Marine Intelligence
Study
– As a basis for assessing
NEC’s opportunities and threats and
overall competitiveness, a competitor
ECONOMIC INFRASTRUCTURE
