The Urban Development Corporation of T&T (Udecott) has confirmed that it owes $55.6 million to construction firm Carillion (Caribbean) Ltd.
Udecott's media, events and community outreach manager, Roxanne Stapleton-Whyms told the T&T Guardian the sum was for base building works on the PK 3 � Board of Inland Revenue Tower at Government Campus Plaza in Port-of-Spain.
"As a result of the outstanding claim, Carillion suspended works on the project," Stapleton-Whyms said.
In 2010, Udecott allegedly terminated the $302.9 million contract awarded to Carillion to fit-out the Board of Inland Revenue Tower and an independent claims consultant was hired to assess the construction firm's claim. Udecott and Carillion negotiated a sum to restart work on the project in 2012 and the company carried out base building works from 2012 to 2014, when the contract ended.
Stapleton-Whyms said Udecott and Carillion are in the final stages of settling the final account.
Asked to comment on the monies owed, Carillion Canada's director, Marketing and Communications, Andrew Brown would only say: "As I'm sure you can appreciate, dealings with any clients are strictly confidential."
Just week, the T&T Guardian reported that approximately 55 employees at Carillion (Caribbean) Ltd's Carapichaima facility have been offered voluntary separation packages (VSEP) There are reports that the company plans to wind up its local operations by year's end.
It was also alleged that management gave instructions not to take on projects that would exceed November/December this year.
Brown said due to the drop in oil prices over the past year and the current economic situation in T&T, Carillion has had to take steps to remain competitive in the market. He the company has become more selective in works tendered and will focus on the core skills of fabrication, including offshore installation and fabric maintenance works.