STATE ENTERPRISES’ INVESTMENT PROGRAMME 2014
25
SUSTAINING GROWTH, SECURING PROSPERITY
•
Eco Centre
– NQCL commenced an initiative
to establish an Eco Centre at an estimated
cost of $1.5 million. Expenditure as at March
2013 was $0.7 million, with $0.8 million
projected for the last quarter of fiscal 2013.
•
Low Cost Housing
– NQCL had estimated
$1.5 million to diversify its business model
through partnering with local developers to
TRINIDAD NITROGEN COMPANY LIMITED (TRINGEN)
Trinidad Nitrogen Company Limited (TRINGEN)
isa joint venturebetweenYARACaribbean (2002)
Limited and the GORTT. National Enterprises
Limited (NEL) holds 51% shareholding in
TRINGEN on behalf of the Government.
The company is engaged in the manufacturing
and sale of anhydrous ammonia using two (2)
independent production plants known as Tringen
I and Tringen II. All production is sold through
sales agency agreements, with a related party
on the open market. TRINGEN also entered into
agreements with various agencies for the supply
of natural gas, electricity and water.
UNION ESTATE ELECTRICITY GENERATION COMPANY LIMITED (UEEGCL)
The GORTT in 2007 agreed to engage in a
joint venture project for the construction and
commissioning of 720 megawatts (MW) Power
Generation Plant at Union Estate, La Brea. The
arrangement involves a fixed price Engineering,
Procurement and Construction (EPC) contract in
the amount of $5,063.3 million (US$785 million)
managed by Trinidad Generation Unlimited
(TGU), a joint venture between the GORTT and
AES Corporation of the United States of America.
UEEGCL is a wholly owned State Enterprise
that was formed to hold GORTT’s shares in
TGU on a 40:60 ratio, with GORTT holding
40%. However, due to AES’ inability to meet its
required contribution to equity, this relationship
was first changed to a 90.3 % (UEEGCL) : 9.7%
(AES) and subsequently, during 2012, to a 100%
shareholding in favor of UEEGCL by way of
GORTT purchasing the minority interest (9.7%)
held by AES.
Phase 1 was completed in 2011 and had a
generation capacity of 240 MW; while Phase
2, with a capacity of 480 MW was completed
in fiscal 2013. The additional capacity which
was originally earmarked for Alutrint Limited,
presents a challenge to T&TEC since the amount
exceeds its current distribution requirement.
The projected expenditure for the period April
2013 to September 2013 is $193.5 million (US$
30.0 million) and $243.2 million (US $ 37.7
million) for fiscal 2014.
provide affordable houses. This project was
rescheduled to fiscal 2014.
•
CrumbRubberAsphalt Plant
–Anestimated
$2.0 million is budgeted for the acquisition
of a Crumb Rubber Asphalt Plant which will
blend rubbermesh particles and organic sand
to create a new grade of asphalt. This project
was rescheduled to fiscal 2014.
ECONOMIC INFRASTRUCTURE
