Energy Minister Carolyn Seepersad-Bachan made the announcement at the formal inauguration of Air Liquide’s US$60 million 720 metric tonne air separation unit at the Point Lisas Industrial Estate.
She said there are several multi-dollar plants to come on streeam as part of the expansion of the local downstream industry.
The minister said last year her ministry made a request for proposals for an downstream ammonia derivative plant, adding that the proposal is now before Cabinet.
She said local financial institutions will benefit from participating in the financing of the project.
Seepersad-Bachan also revealed that Government is negotiating with international investors who are interested in setting up a methanol to olefins plant in Point Lisas which will also be close to $2 billion investment.
Commenting on the French company's plant, the minister said it “is an example of the forward thinking that we need right now. It shows foresight and confidence in the Trinidad and Tobago’s energy sector.
She commended the company for its "impeccable safety record" of 14 years without loss of life.
Mike Graff, Air Liquide USA LLC CEO said the unit is environment friendly and will “open the door” for increased liquified natural gas exports “which will have a positive impact on the economy.”
He added that the company has confidence in the Trinidad and Tobago’s economy and has no difficulty in increasing its investmentin the country.
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