Billion-dollar plastics and glass manufacturing plants are likely to replace the scrapped aluminium smelter plant at La Brea, according to Energy and Energy Affairs Minister Carolyn Seepersad-Bachan.
She indicated that in her contribution to the 2010/11 budget debate in the Senate yesterday. She made no reference to her fall, which occurred in the Parliament Chamber last Thursday. She told legislators the court had stopped the billion-dollar project after quashing the Certificate of Environment Clearance, which was given by the Environmental Management Authority (EMA). She added that even if the court were to rule in favour of the smelter project, its cost would not be sustainable. "It does not make economic sense," Seepersad-Bachan said. She said the Government had identified potential downstream industries for Union Estate, La Brea.
She said plants to manufacture inorganic chemicals, glass, alternative energy-industry plastics and agro-businesses were likely to be put on the site. "We are in the process of preparing a request for proposals. We are presently reviewing for an anchor project that will allow for maximisation of the existing Union Estate," she added. The Energy Minister said there already were prospective candidates for the plastics project and an integrated complex for a world-scale manufacture of glass and photovoltaic cells. Seepersad-Bachan said the plastics project would require an investment of US$2 billion and the integrated glass and photovoltaic cells project, which requires the importation of silica from Guyana, would require a capital investment of US$2.5 billion.
"The alternative energy industry is a growing industry. It is close to US$100 billion now and it is expected that the cost of solar panel will be able – in three years – to meet the cost of conventional energy supplies," Seepersad-Bachan said. She noted there would be a "big market" for those products. She said it also would create "significant employment" for nationals of T&T. On the issue of the billion-dollar annual gas subsidy, she reiterated the Government was not about to increase gas prices in order to reduce the subsidy. She said the Government would embark on an adequate national network of CNG (Compressed Natural Gas) refuelling stations.
She said Unipet and the National Petroleum Marketing Company (NP) were to establish "fast-filled mega CNG stations in this country to give you that national coverage." She said the measure was to be funded by the two companies. She said new CNG stations were to be established within the next 18 months at Invaders Bay, Mucurapo, Trincity Central Road, Edinburgh Boulevard, Dunlop Roundabout, Point Fortin and Couva/Balmain. She said new CNG stations were to be set up at two unidentified locations.