Caption: The refinery at Pointe-a-Pierre
PATRIOTIC Energy Services Company Limited describes Energy Minister Stuart Young comments in Parliament on Friday about it allegedly submitting fake documents in the bid for Point-a-Pierre refinery.
The Minister’s comments in Parliament on October 4, 2024, allegedly misrepresented Patriotic’s financial partner involved in discussions with a Cabinet-appointed evaluation committee, it said in a release on Saturday.
During the Budget debate on Friday, Young said Patriotic failed to prove its financial capability, even after being granted additional time to secure financing.
He said that the document submitted, purportedly reflecting the US$1.5 billion, was fraudulent. “Any responsible Government would want to restart the refinery, but not at a financial burden to the people,” he said.
Patriotic said its chosen financier, approved by both the Evaluation Committee and Scotiabank International, was mischaracterised. The company satted that their financier had been thoroughly vetted and no concerns were raised by either the Evaluation Committee or Scotiabank International, which both expressed satisfaction with the partnership.
Patriotic asserted its confidence in the financier’s ability to pass any due diligence checks and confirmed that they had received no negative feedback regarding the suitability of their financial partner.
It stated, “Patriotic did not receive any communication or indication from either the Evaluation Committee or Scotiabank International as to the unsuitability of our preferred financial partner.
“Patriotic remains confident that we met all the requirements and have presented the best proposal for and on behalf of the workers and the people of Trinidad and Tobago.”
