The first shipment of fuel under the Petro Caribe agreement should arrive in St Vincent and the Grenadines before the end of August 2022.
Prime Minister Dr Ralph Gonsalves said this shipment will be delivered to Vinlec’s facility at Lowmans Bay which has the “installed capacity for almost 50 per cent of the electricity which is produced and what is consumed”.
Dr Gonsalves said that the fuel under the Petro Caribe arrangement is acquired at a “35 per cent discount off the top.”
Other areas under agreement with the Government of Venezuela include shipments of Urea fertilizer, Asphalt and the 150 prefabricated houses for families affected by the eruption of La Soufriere.
Gonsalves said during his recent trip to Venezuela, he was able to meet with the relevant authorities concerning the 9-million-dollar loan from the ALBA Bank; those monies will go towards the redevelopment of Little Tokyo and augment the Fishing Fleet Programme.