First Cit­i­zens has en­tered in­to part­ner­ship with Point Lisas In­dus­tri­al Port De­vel­op­ment Cor­po­ra­tion Ltd (Plipdec) for a $201 mil­lion cred­it fa­cil­i­ty which will ma­ture on De­cem­ber 18, 2024.

The fa­cil­i­ty is to be used for the re­fi­nanc­ing of pre­vi­ous­ly ex­ist­ing loan arrange­ments, up­grad­ing of in­fra­struc­ture and pro­cure­ment of new port equip­ment.

The sign­ing cer­e­mo­ny was at­tend­ed by First Cit­i­zens ex­ec­u­tive chair­man An­tho­ny Isidore Smart; deputy CEO, Cor­po­rate Ad­min­is­tra­tion Sharon Christo­pher; as­sis­tant gen­er­al man­ag­er, Cor­po­rate Bank­ing Unit, An­gela Hor­datt; Plipdec chair­man Ian Ather­ly, its pres­i­dent Ash­ley Tay­lor and oth­er key mem­bers of its man­age­ment team.

Plopdec is a pub­licly trad­ed com­pa­ny which fo­cus­es on in­dus­tri­al re­al es­tate man­age­ment and port man­age­ment and op­er­a­tions. The Port of Point Lisas, which is the sec­ond ma­jor port in T&T, con­sists of six gen­er­al car­go and con­tain­er berths.