Plipdeco board has new chairman

A new chairman has been appointed to the Point Lisas Industrial Port Development Corporation Ltd (Plipdeco).

Annette Wattie replaces Daniel Dookie as chairman of the board.

Stephen Harris is now a director.

These board changes were announced by Plipdeco in a notice to the TT Stock Exchange on October 9. This follows Plipdeco's 57th annual general meeting on October 8 at Plipdeco House, on the Pt Lisas Industrial Estate.

Dookie served as chairman for three years.

Harris replaces Haydn Jones, who resigned as a director on September 30. He too served for three years.

Plipdeco did not provide an update on the status of its president Ashley Taylor, who was sent on administrative leave on July 29. Its vice-president (technical services) Dr Averne Pantin is currently acting president.

In a notice on September 25, Plipdeco said the meeting was set for October 8 to consider the directors' report, audited statements for the financial year ended December 31, 2023, the election of directors, appointment of auditors and to authorise the directors to fix their remuneration and expenses for the following year.

A Newsday article on September 26 said Taylor was sent on leaving after concerns about contracts Plipdeco negotiated under his tenure over the past 16 years. One such matter was reportedly Plipdeco's lease agreement with TT Iron and Steel Company in July, for the defunct steel plant at the Pt Lisas estate, formerly owned by Arcelor Mittal.

TT Iron and Steel acquired the plant from liquidator Christopher Kelshall on July 26. ArcelorMittal closed its operations in Trinidad in March 2016.

In July, TT Iron said planned to refurbish the steel plant to resume its operations.

In Plipdeco’s condensed consolidated interim financial statement for the six months that ended June 30, former chairman Daniel Dookie welcomed TT Iron and Steel as a new tenant.

“This move aligns with our commitment to fostering industrial growth and the provision of a conducive environment for business to thrive,” he said.