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Friday, April 16, 2021
HomeBusinessPatriotic Wants Govt To Revisit Petrotrin Proposal

Patriotic Wants Govt To Revisit Petrotrin Proposal

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(Trinidad Guardian) The Government is being asked to allow Patriotic Energies and Technologies Limited’s proposal to be independently evaluated again before considering other options for the sale of Petrotrin’s Pointe-a-Pierre refinery.

The request was made by Oilfield Workers’ Trade Union (OWTU) president-general Ancel Roget at a press conference at the union’s San Fernando yesterday, in response to Government’s rejection of Patriotic’s September 29 proposal.

During a virtual press conference on Saturday, Energy and Energy Minister Franklin Khan said Patriotic’s final proposal failed to address the three key issues concerning the acquisition. He said issues were purchase price financing, restart financing and first priority lien on the assets. Khan said the Government was committed to restarting the refinery with private capital injection.

However, Roget yesterday said they were surprised by Khan’s statements, as Patriotic’s proposal had addressed the key issues and they had also offered an upfront cash payment.

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