Sunday, March 13, 2016

Another view on ArcelorMittal

Ronald Bhola has another view on the matter of ArcelorMittal. Here are his thoughts:

When ArcelorMittal lost a 16 year battle in the Privy Council last August industry analysts felt that with the humiliation suffered by the company it was likely that they would not want to pay the contracted workers as awarded. 

Analysts and observers even suggested that MITTAL now had options available to him, one of which is to close down the Point Lisas plant.

When the local steel company (ISCOTT) was leased to ISPAT (Caribbean ISPAT) by the NAR, it had its main operations in Indonesia, but concessions with cheap electricity and natural gas made available to it in TRINIDAD, made it into an international powerhouse. 

Now this multi-national no longer needs TRINIDAD. They want electricity and natural gas as though it should be given free. The country is being held to ransom by this company.

Editor's note:
If it is as simple as that, then the present administration, with some of the original players and founders of ISCOTT as advisers, could let ArcelorMittal go and run the plant. But they could not do it in the 1980s and they can't do it today. Mittal and Caribbean Ispatt got energy concessions but saved the country billions of dollars between 1989 and today. In these tough economic times the government failed to see the big picture and try to find a compromise to keep the steel giant here. Seeking dialogue now while also insulting the company is not the way to go.

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Jai & Sero

Jai & Sero

Our family at home in Toronto 2008

Our family at home in Toronto 2008
Amit, Heather, Fuzz, Aj, Jiv, Shiva, Rampa, Sero, Jai