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China team in Trinidad & Tobago to sign MoUs in two big projects




By Shaliza Hassanali

Petroleumworld 06 18 2018

A high-level Chinese delegation will be in T&T today to sign two memoranda of understanding (MoU) with Government on two major projects.

During his trip to China last month, Prime Minister Dr Keith Rowley had discussions with officials of Beijing Construction Engineering Group (BCEG), the company currently building the world's largest airport, Beijing International Airport in China. He invited the company to partner with Lake Asphalt in developing and monetizing asphalt products.

Last month, Finance Minister Colm Imbert announced that BCEG will fund construction of a US$104 million industrial complex in Point Lisas and on Thursday Minister in the Office of the Prime Minister Stuart Young announced that the delegation from Beijing will visit T&T from today for three days.

The eight-member delegation will be headed by the deputy mayor of Beijing who will be accompanied by his support staff as well as several businessmen.

“This is the first stage of results and implementation of decisions that we have taken. What we hope to see is an influx of Chinese investments in some very significant projects in T&T,” Young said Tomorrow, the delegation will visit Lake Asphalt and the site of the industrial park.

On Monday, the Ministry of Caricom and Foreign Affairs and Trade and Investment will host a luncheon in their honour.

Young said: “We expect to sign two MoUs—one with respect to the industrial park and the other Lake Asphalt.”

The delegation will also go to Tobago where they will be hosted by the Tobago House of Assembly (THA).

Young also gave an update on the Sandals Tobago project, stating that last month they met with executives of the hotel chain.

“We are in the process now of trying to detail and move towards implementation of agreement process with the Sandal project we hope to build in Tobago,” he said.

Last October the Government signed an MoU with Sandals Resorts.

So far, Young said they have completed all the site surveys which are in the hands of Sandals officials. A Sandals' executive team will be coming to Trinidad in early July.

“We are working out the dates now where our negotiation team, as well as Golden Grove Buccoo Limited where the chairman, Mr Neil Wilson, and myself will be meeting with the Sandal executives and walking the site with them,” he said.

The minister said they are now getting into the “nitty-gritty” of the project and are hiring engineers and conservationists to protect the environment where the hotel will be built on Buccoo Lands, while Government would get all the necessary approvals from the Environmental Management Authority (EMA).

Young said next month they will be in a better position to say when the sod for the project will be turned.


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Story Shaliza Hassanali by from Trinidad & Tobago Guardian
06 18 2018

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