Looking forward to a fruitful 2025

As 2025 begins, here's a recap of the performance of some economic sectors in the past year and projects expected to be implemented in the new year.

Renewable energy

In the renewable energy sector, NGC, bpTT and Shell’s Brechin Castle Solar Park is planned to be a 92MW project. NGC holds a 30 per cent shareholding investment in the project, Shell and bpTT are the other two shareholders. In December, NGC said works were progressing well and the plant would be commissioned in 2025.

In April 2024, HDF Energy out of France acquired 70 per cent of KGL’s NewGen project, a planned US$200 million clean hydrogen plant, meant to supply 20 per cent of the hydrogen needed for an ammonia plant in Pt Lisas.

In November 2024, light detection and ranging (Lidar) devices were deployed to Galeota and Orange Valley to acquire wind data for 12-18 months, under the Wind Resource Assessment Programme (WRAP) for TT to test the best sites for power generation. Energy and Energy Industries Minister Stuart Young said wind energy would be the source of power for TT’s future Green Hydrogen industry. He said the onshore WRAP will continue to three other sites in 2025.

Oil and gas

In the energy sector, Young said bpTT’s joint-venture with EOG on the Mento field is expected to bring on first gas from the field by 2025. It is forecast to produce upwards of 8,000 barrels of oil per day by 2028.

He said the government has approved the Cypre Plan of Development which will result in an investment of approximately 854 Million through 2025. He said the Cypre field is also expected to be online by 2025, and BP expected to start up both projects in 2025 with a combined net peak production capacity of 75 mbod (million barrels of oil per day).

Young said other initiatives by the ministry are the development of the Energy SmarTT mobile app, an operational focus on methane tracking, a carbon sequestration study at NGC’s reforestation sites, research partnerships with academia and an intensified focus on public education around clean energy.

Housing

Housing and Urban Development Minister Camille Robinson-Regis said by the end of fiscal 2024/2025, 703 families are expected to benefit from a total allocation of $20.39 million, comprising 492 home improvement subsidies and 211 home construction subsidies. A $12 million budget allocation for the current fiscal year will support the distribution of 800 additional home improvement grants.

Robinson-Regis said government will build 100 new town houses at Caura, El Dorado, by December 2025. She added that 72 of them will be completed by June 2025.

Business and finance

Finance Minister Colm Imbert said government has approved ten special economic zones across the country in accordance with the Special Economic Zones Act 2022.

The Port Authority of TT pre-qualified two bidders to advance in the public-private partnership (PPP) process for the Port of Port of Spain and expects to select a preferred partner in 2025. This will result in a more efficient port.

The Central Bank is in the process of rolling out a mobile-to-mobile, fast payments system along the lines of India’s Unified Payments Interface (UPI). It said a pilot is being scheduled for the first half of 2025 to test the system in TT with the aim to have the system fully functional by the end of 2025.

Travel

Finance Minister Colm Imbert said the ANR Robinson airport expansion project is expected to be completed in early 2025.

The Liat20 airline had its inaugural flight to TT on December 20, and is expected to provide 1,750 seats a week to travellers to and from TT.

KLM Royal Dutch Airlines increased the frequency of its flights from Amsterdam, Netherlands to Port of Spain for the 2024-2025 winter season (October-March).

Health

Patient Connect CEO Dr Navi Muradali said 2025 will mark the launch of the AI-powered One Caribbean Wellness platform, a regional digital hub designed to provide affordable and accessible health and wellness services to individuals, businesses and healthcare providers across the Caribbean.

Health Minister Terrence Deyalsingh said the ministry is working on reducing preventable mortality by non-communicable diseases (NCDs) by 25 per cent by 2025 through sustainable solutions such as providing targeted programmes and services like a gestational diabetes management programme, the TTMoves campaigns and a 24-hour hotline offering medical advice.

Deyalsingh said the San Fernando General Hospital (SFGH) will be fully refurbished and modernised by 2025.

Finance Minister Colm Imbert said the central block of the Port of Spain General Hospital was scheduled to be opened in March 2025.

He said a digital medical records system would be implemented by December 2025. He said the aim was to create a fully paperless healthcare environment to improve efficiency and patient care, which was crucial for modern healthcare.

Labour

HIV/Aids legislation, a sexual harassment workplace policy and the re-operationalisation of the tripartite labour council are some of the issues the Labour Ministry will be working on in 2024/2025.

Tobago

Secretary of Tourism, Culture, Antiquities and Transportation Tashia Burris says she is hoping to have the antiquities component of the division up and running during the first quarter of 2025. The Water and Sewerage Authority said there are plans for a desalination plant in Charlotteville, to start by January 2025.

Upgrades

Port of Spain mayor Chinua Alleyne says the city council will restore the fountain in Woodford Square, and collaborate with cultural groups in fiscal 2025, in a bid to push Port of Spain’s heritage tourism and economic development potential.