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Thursday 21 November 2019
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Patriotic submits bid for refinery

Minister of Finance Colm Imbert

-ANGELO MARCELLE
Minister of Finance Colm Imbert -ANGELO MARCELLE

THE OWTU has said its company Patriotic Energies and Technologies had, on Thursday, met the Ministry of Finance’s deadline to send in details of its US$700 million bid to buy the former Petrotrin refinery.

A statement, "Patriotic meets deadline," said Finance Minister Colm Imbert had said on September 20 that Patriotic had been chosen as the preferred bidder to buy the Guaracara (refinery) and Paria (oil trading) legacy companies of Petrotrin at Pointe-a-Pierre.

Patriotic was asked to satisfy ten specific conditions within a month.

The OWTU said Patriotic met the Evaluation Committee on October 4 to clarify the requirements, so the month began that day.

“On Monday, November 4, 2019 the entire Patriotic team/consortium met with the Evaluation Committee consistent with the one-month deadline and delivered on all of the ten areas of requirement.”

The union is awaiting the committee’s response by month-end.

“The OWTU is confident that its company Patriotic stands ready to move to the next stage of fully completing the acquisition process in a timely manner for the benefit of all citizens of TT.”

Newsday was yesterday unable to contact the Ministers of Finance or Energy.

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