Business
Narissa Fraser
8 Hrs Ago
Kiran Singh, president of the Greater San Fernando Area Chamber of Commerce, says the opening of NiQuan Energy Trinidad Ltd’s gas-to-liquids plant is “welcome news for the economy and energy industry.”
The Prime Minister opened the Pointe-a-Pierre plant on Monday. It is the first of its kind in the western hemisphere and has a 2,400-barrel capacity.
Singh told Newsday this would bring in some much-needed foreign exchange which will significantly reduce the demand.
On the capacity, he said, “We expect that the production will be ramped up as they settle into the operations of the plant.
“This is really an encouraging sign for the energy sector, which has been languishing for some time, due to the fallout in global demands for petrochemical and energy products, and also demand and prices.”
Construction on the project began in 2007. At its opening ceremony, Dr Rowley said it is now a victory, despite once being “plagued by delays and cost overrun.”
And with “so many plants that are now idle in Point Lisas,” he said, “I had hoped that it would have been commissioned a lot sooner. But the fact that it has started is a welcome sign, especially during a pandemic.
“All industries have been affected by covid19 and we look forward to the recovery of the economy. Energy still drives this economy, and we need to bear that in mind.”
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