The Trinidadian Finance Minister, Colm Imbert, disclosed this during a presentation of its national budget held on September 30. Our correspondent obtained the minister’s speech on Monday.
He noted that among the initial 10 proposals, three companies had made the final shortlist including, CRO Consortium, a consortium of three Trinidadian companies, INCA Energy, an American company, and Nigeria’s Oando Plc.
The bidding process began in February 2024, when the government of Trinidad and Tobago enlisted the services of US-based Scotia Capital to oversee the refinery’s procurement by inviting “expressions of interest.”
Imbert noted, “A formal selective Request for Proposals process will now be initiated to determine the winner among these three companies, with a view to restarting the refinery, if found feasible.”
He explained that the proposals received were evaluated based on five criteria which were, a clear restart plan and timeline by the proposing company.
Subscribe our newsletter to stay updated
Thank you for subscribing!
Subscribe our newsletter to stay updated
Thank you for subscribing!
