Tuesday, November 28 2006

THE existing Point Lisas Industrial Estate is to be expanded by an additional 1,466 hectares.

An estimated 150 hectares is projected for reclamation, Minister in the Ministry of Finance, Senator Christine Sahadeo, announced in her feature address at the Couva/Pt Lisas Chamber of Commerce’s awards ceremony at Kam Po Restaurant, Ramsaran Street, Chaguanas, on Saturday night.

The Minister said among the proposed tenants for the new estate are Essar, which is engaged in steel and downstream industries; Westlake, which plans to build an ethylene complex; Carisal, the developer of a caustic soad plant and an estimated 150 other firms that are involved in various service industries.

Neighbouring communities Dow Village, Esperanza, Diamond, Ouplay and Windsor Park are also to be expanded.

Sahadeo said a new network road programme would include the dualling of Rivulet Road, vehicular access off the Indian Trail overpass and Claxton Bay, drainage improvements and the creation of corridors separating public and estate traffic.

The Minister said Trinidad and Tobago is expected to export 12 million tonnes of petrochemical products next year, as well as 10 million tonnes of steel products, which would be worth an estimated US$5 biilion.

“The estate will further strengthen the single most dominant influence in the development of Couva and that is the presence of energy-based industries and port facilities in Pt Lisas on a scale not experienced before,” said Sahadeo.

Other benefits in the development of Couva would be employment, improved living standards, economic growth, appreciation of properties, increased commercial activities and the improvement of the physical infrastructure, said Sahadeo.

Couva, she said, is poised to become the energy capital of the Caribbean.

The Central Trinidad industrial town also stood to gain from financial and maritime services and the growth and demand associated with the supplies and services support sector.

“The industrial expansion and housing demand will strengthen Couva as an economic base within Trinidad and consequently, with a mix of new commercial activity on a scale not previously experienced.”