By Sue-Ann Wayow
PROMAN, one of the world’s largest methanol and fertiliser producers, is committing to stay in Trinidad and Tobago for the next years.
This, with an investment of US$1.1 billion.
Prime Minister Dr Keith Rowley met with Proman Chief Executive Officer David Cassidy and his executive team at the company’s headquarters in Zurich, Switzerland, who gave the commitment, the Office of the Prime Minister stated on Monday.
Dr Rowley is on an overseas trip to meet energy company officials, including Proman, Shell and BP representatives along with Minister of Energy and Energy Industries Stuart Young who was also present at the meeting.
Proman, a global leader in natural gas-derived products is assuring that there will be major plant maintenance turnarounds at Point Lisas and it will also pursue other energy transition initiatives and opportunities in the country.
The OPM said Trinidad and Tobago was a key centre of Proman’s operations, with 14 petrochemical plants owned and operating locally and 1,100 employees, which is 67 per cent of its global headcount.
In a Facebook post, the OPM stated, “During (yesterday’s) meeting, the energy company reiterated its commitment to Trinidad and Tobago, highlighting its planned investment of USD 1.1 billion over the next ten years for major plant maintenance turnarounds at Point Lisas. This investment will fund work on safety, reliability and greenhouse gas reduction initiatives. The company will also work with the Government to pursue other energy transition initiatives and opportunities.
“Discussions also focused on Proman upstream company – DeNovo – its operations and opportunities for expansion of its acquisitions.The meeting featured talks on Proman’s promotion of methanol as a maritime fuel and the reduction of shipping emissions. The meeting explored opportunities for Trinidad and Tobago as one of the largest global methanol producers, which also boasts a safe harbour, to position itself as a major shipping refuelling destination.”
The role of carbon capture in the new economic model for energy transition also formed part of the discussions, the OPM added.
Dr Rowley and Young are expected to visit Proman’s operations in Germany on Tuesday.
