Trinidad and Tobago is seeking to revive the Point Lisas Industrial Estate through new steel production, expanded maritime infrastructure, and additional natural gas supplies.
Prime Minister Kamla Persad-Bissessar outlined the plans on August 10 during the visit of U.S. Deputy Secretary of State Christopher Landau. She said the investments demonstrate renewed confidence in the country and its relationship with the United States.
“We are restoring Point Lisas as an engine of growth,” Persad-Bissessar said.
Point Lisas is one of Trinidad and Tobago’s main industrial centers. It was developed around the use of natural gas as fuel and feedstock. The estate supports methanol, ammonia, fertilizer, steel, power generation, manufacturing, and port operations. The latest plans include the restoration of the former ArcelorMittal steel plant by Ibis Steel Company of Trinidad and Tobago. Ibis Steel is backed by U.S.-based Pinnacle Steel and Vanadium Corporation.
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Persad-Bissessar said Pinnacle’s acquisition and proposed upgrade of the plant would restore steel and vanadium production. The project is also expected to create jobs and support local businesses.
The Prime Minister said the investment “can and will restore capacity, will create jobs, much-needed jobs, and benefit all local contractors and manufacturers whilst at the same time signaling confidence in our steel sector.” The plant closed in 2016, bringing steel production at the facility to an end after decades of operations at Point Lisas.
Curlew Midstream is also proposing a fuel storage and bunkering terminal at the estate. Bunkering involves supplying fuel to ships.
Persad-Bissessar said the terminal could strengthen the Port of Point Lisas and expand the country’s energy and maritime infrastructure.
The projects are being advanced as the government works to secure more natural gas for Trinidad and Tobago’s industrial sector.
Point Lisas depends on gas to sustain its petrochemical operations. The National Gas Company of Trinidad and Tobago in May renewed gas supply contracts with Proman affiliates operating methanol and ammonia plants at the estate. Those agreements support production, exports, employment, and foreign exchange earnings.
Trinidad and Tobago has also been pursuing new offshore and cross-border gas developments to support its industrial base. These include the Manakin-Cocuina field, which crosses the maritime boundary with Venezuela, and the Calypso discoveries off Trinidad and Tobago.
Persad-Bissessar linked the effort to develop Manakin-Cocuina with the broader push to restore industrial activity. “We’re securing the gas we need to sustain it,” she said.
Manakin is located in Trinidad and Tobago’s Block 5(b), while Cocuina lies in Venezuela’s Plataforma Deltana Block 4. The countries agreed in February 2015 to develop the accumulation as a single field.
