Bai, Revenge, only your bigotry exceeds your stupidity!!

Thursday 18th Janurary, 2007

Chamber backs rapid rail project

Works and Transport Minister Colm Imbert emphasises a point to businessmen and women attending Tuesday’s breakfast meeting on the Government’s proposed Rapid Rail service at the headquarters of the T&T Chamber of Industry and Commerce at Columbus Circle, Westmoorings
Chamber President Ian Welch is seated at right.

Photo: Shirley Bahadur

By Sherwin Long


T&T Chamber of Industry & Commerce president Ian Welch lent his support to Government’s proposed $7 billion rapid rail service on Tuesday by observing how traffic congestion negatively affected the country’s productivity.

He was speaking during a Chamber breakfast meeting at the organisation’s Columbus Circle, Westmoorings headquarters.

Welch also acknowledged that T&T had the highest level of traffic in the region.

Traffic congestion is a clear symbol of the systemic decline of a country’s infrastructural readiness to meet new and even existing demand,” Welch said.

The Government therefore has no choice but to provide mass transportation choices for citizens.”

According to Chamber research, Welch said the rapid rail system would be able to compete with automobiles in terms of travel time.

Plus, the service would improve access to schools, jobs and hospitals for the elderly, young and disabled.

During the meeting Works and Transport Minister Colm Imbert gave details on the rapid rail’s benefits.

Imbert said the rapid rail would hasten Government’s plan to decentralise the city of Port-of-Spain as a lack of transport options had hindered decentralisation.

He said the rail could be linked to Government’s plan to set up a city in Wallerfield.

Welch also said the service would provide “opportunity for improved economic development along the rail lines.”

Several questions were raised about the ability of the National Infrastructure Development Company to evaluate the quality of the two bids.

But Imbert said foreign consultants were hired to assess the bids.

Two consortia remain in the bidding war for the rapid rail undertaking: the Trinitrain consortium led by Bouygues Travaux Publics and the T-3 Group led by Vinci Construction and Bombardier.

Imbert said by February 28 a contract would be awarded for the design and planning phase of the project.

After this, the Government will settle on a fixed price for the rapid rail and then a contract would be awarded for construction of the project.

A railway authority will be set up to manage the service.

Imbert said by 2010 the project is expected to be complete from Curepe to Port-of-Spain and Curepe to Chaguanas.



©2005-2006 Trinidad Publishing Company Limited

PNM: Manning a man of ‘utmost integrity’


Friday, January 19 2007 (T&T Newsday)


The People’s National Movement said it welcomes the decision to strike out “scandalous allegations” made against its political leader, Prime Minister Patrick Manning, in an affidavit by leader of the Jamaat Al Muslimeen, Yasin Abu Bakr.

In a release the PNM noted that this was not the first time the Jamaat leader had attempted to sully the name and reputation of the PNM and its leader, with baseless allegations.

“Fortunately the learned judges of the Court of Appeal were able to see this for what it was, just another attempt to bring the name of the Honourable Prime Minister into disrepute and bearing no relevance to Mr Bakr’s failure to honour his debt to the State as ordered by a court of law,” the PNM stated.

The party said it was “well-known” that Manning was a man of “the utmost integrity” and would never be party to any criminal behaviour.

Chinese workers at home in TT


Saturday, January 20 2007 (T&T Newsday)



A CHINESE worker employed on a State construction project in Trinidad and Tobago said this country has become a second home to him and his countrymen and many things said about them since their arrival in this country are not true.

TT Contractors Association (TTCA) Mikey Joseph yesterday said while local contractors have no difficulty with the presence of foreign construction workers in TT, there needs to be a greater level of transparency about some aspects of their activities here.

The Shanghai Construction Group (SCG) is one of several Chinese companies now involved in State construction projects in TT. Some of those projects include the new Social Development Tower on St Vincent Street in Port-of-Spain, the National Carnival and Entertainment Centre being built at the Queen’s Park Savannah and two academies for the performing arts, earmarked for the Princes Building grounds in Port-of-Spain and San Fernando. Since 1998, SCG has been ranked in the top 50 of the world’s top 225 international contractors by the US’ Engineering News Record magazine.

The Sunway Construction Group, another major Chinese firm, is involved in the construction of the new headquarters of the Legal Affairs Ministry at Government Campus Plaza on Richmond Street. Michael Zhang, a civil engineer at the SCG, said he has been working in TT for the last seven years. Zhang, a resident of Shanghai, said he has grown to love this country so much that he acquired residency status.

Since Chinese workers first arrived in TT around 2000, there have been many rumours claiming that they have been residing in sub-standard housing conditions and even living on the various work sites where they are employed. “You can’t live on the sites. We live in houses,” said Wang Lei, another SCG official.

Zhang said the SCG makes arrangements for its employees to be properly accommodated in whatever country they are working. He explained that for one site in TT, the SCG purchased a plot of land nearby and constructed some houses for its workers.

Zhang and Lei declined to give any further information about SCG’s workers or the company’s operations. Joseph said there has been little interaction between local contractors and the Chinese construction workers since the latter started working in TT.

He said there were many aspects of the Chinese construction companies’ activities which the TTCA had no idea about, such as the wages which they paid their workers. Joseph said while a local labourer on a construction site is paid a rate of $15 to $18 per hour, he had reason to believe that Chinese labourers were being paid between $9 to $10 per hour. Noting that the minimum wage in this country is $9 per hour, Joseph said TTCA has never been able to verify the exact rates at which the Chinese or other foreign construction workers are paid. However, he said experience within the construction industry, suggests that European and North American construction workers in TT could be receiving wages above $18 per hour.

He also said that through the government-to-government arrangements between TT and the People’s Republic of China, the Chinese construction companies in TT import all their labour and equipment from China. Joseph said he had no idea where the Chinese workers were housed when they were not on the job. “They seem to live in shifts and they work in shifts,” he added.

Officials at the TT Housing Development Corporation said no special arrangements were made with them to house the Chinese workers. They said any such arrangements could have been made between private entities and the workers’ employers.

Officials at the Urban Development Corporation of TT (Udecott) said while the construction projects being undertaken by SCG and some of the other Chinese companies working in TT fall within its portfolio, Udecott is not involved in areas such as accommodating their workers. It said the foreign firms working in TT make the necessary arrangements to house their employees.


POINT OF VIEW: While work continues on the billion dollar waterfront project creating the new "face" of Port-of-Spain, work has also restarted on the widening of Wrightson Road. Soon a third lane will be created that will hopefully ease the stress of traffic congestion.
Author: SUREASH CHOLAI


SAFETY FIRST. The Sunway Construction Group has hung this banner on the new Legal Affairs Ministry tower on Richmond Street in Port-of-Spain to show their commitment to workers' safety. Twenty workers were injured at the nearby Customs and Excise Building site in July. Author: CLINT CHAN TACK

CAMOUFLAGE WORKER: A construction worker, dressed in army camouflage, at work on the site of the new high-rise Board of Inland Revenue Building on St Vincent Street, Port-of-Spain, yesterday. He is one of several expatriate Chinese workers employed on the project.
Author: AZLAN MOHAMMED

UDeCOTT artist impression of the proposed Port-of-Spain International Waterfront Centre.

PNM support for smelters

Louis B Homer South Bureau


Sunday, January 21st 2007 (T&T Express)



The smelter issue in Trinidad took a new dimension yesterday as thousands of People's National Movement supporters descended on the seaside village of Vessigny to pledge their support for the building of smelter plants in Trinidad and to hear government's plan for the industrialisation of Trinidad and Tobago.

In his hour-long address at a specially convened convention of the party, held at the Vessigny Secondary School, Prime Minister Patrick Manning said government had received requests from several interest groups in the area indicating their support for the plant at Chatham.

"The farmers in the area are saying for the first time that their crops will be protected from praedial larceny when the proposed fence is constructed by Alcoa."

Manning said he received similar requests from the beekeepers and the Point Fortin chamber of Industry had indicated their disappointment that government had intended to abandon the project at Chatham.

Manning also dispelled fears that the aquifer would be affected. "We have been advised by WASA that all this talk about poisoning the aquifer is false," said Manning.

Manning said "all over Trinidad and Tobago we are getting support for the government's industrialisation policy... Let the mice play, but when the people speak we speak for the people of Trinidad and Tobago."

Manning accused the anti-smelter groups as people who oppose the idea for opposing sake. He then asked the crowd, "Did the people hear the voice of the PNM, do you support it?" this brought loud and sustained cheers from the crowd.

"I want to leave no doubt as to where the PNM stands" said Manning.

The Prime Minister said what started as opposition to the smelter plants was really opposition to the policy of industrialisation in Trinidad and Tobago.

"If not industrialisation then what? asked Manning.

Manning said in the industrialisation programme, Tobago has not been left out.

"We are looking at the development of the Cove Estate in Tobago which will be brought back to its pristine condition."

Manning dismissed the notion that the government behaves in an arrogant manner and does not listen to the voices of the people.

"It is not that we are arrogant it is that we think things through before we act," said Manning.

Manning said at the rate in which the country is being developed it will be necessary to import more labour from abroad."

He said already there are Guyanese labourers now working in the sugar industry in Trinidad.

As for criticism made against the Chinese labourers Manning said, "the Chinese workers work all day and give a high productivity and they don't drink on the job."

Speaking on the proposals to develop the Oropouche Bank Offshore Industrial estate, Energy Minister Dr Lenny Saith said tenders for designs services which had been put out in November last year will close this month.

He said the island would allow for a large-scale cluster of gas-based industries and the site would be separated three kilometres from the coastline .

Saith said studies are already on the way to enhance fishing in the area and avoid disruption of marine activities.

He said one of the benefits of the offshore island is the fact that there would be no flooding.

But even as Manning defended government's plan to build the smelters there were scores of people in the Otaheite area showing their rejection for building any smelter plants in Trinidad.

There were hundreds of posters attached to the light poles for a distance of some two miles on the road to La Brea. the signs read, "No smelter Island. Yes fishing industry and healthy environment".

Tuesday 23rd January, 2007


Shutdown comes after 300 years


By Yvonne Baboolal (Trinidad Guardian)


SUGAR CANE cultivation in this country will finally grind to a halt next year, after nearly three centuries of production.

This was decided yesterday when Prime Minister Patrick Manning met with sugar cane farmers at his Whitehall office in Port-of-Spain.

The agreement was reached after a 40-minute meeting.

Agriculture Minister Jarette Narine and Minister in the Ministry of Finance Christine Sahadeo were also at the meeting.

Narine told the Guardian later: “The Prime Minister agreed to shut down the sugar industry when the 2007 crop ends, after the farmers asked him to.

“Raffique Shah, from the Trinidad Islandwide Cane Farmers Association (Ticfa), was one of the first people to ask for farmers to exit the industry.

“Mr Manning agreed to help give them a soft landing. He also promised, pending Cabinet approval, a $25 increase for this year’s crop.”

Balram Ramdial, one of the farmers’ representatives at the meeting, had a slightly different interpretation.

“Manning told us that there will be no more sugar cane industry after the 2007 crop. He said the sugar industry had become a financial burden the Government could no longer bear.

“He said the Government can’t sustain the industry and drew reference to a $47 million subvention given to the sugar industry team last year, and another $61 million given to the research extension support services.”

The farmers had met with the PM to demand, among other things, a contract to supply cane for a minimum of five years and in increase in the price of sugar.

Still, according to Ramdial, the decision to shut down the industry, which will impact on some 7,500 farmers and their families, did not come as a surprise to them.

“It was not economical. It took 17 tonnes of cane to make one tonne of sugar.”

“Manning told us that an inter-ministerial team, headed by Dr Lenny Saith, would be set up to compensate farmers and help us exit comfortably, even before the present crop ends.”

Ramdial said it was critical for the team to meet early with farmers to work out the exit strategy.




©2005-2006 Trinidad Publishing Company Limited

Tuesday 23rd January, 2007


Lee Chin hints at RBTT interest

meets with NIB, UTC, ANSA McAL officials

Jamaican billionaire investor and AIC chairman Michael Lee Chin (centre) reaches out to Ansa McAl Group chairman emeritus Anthony Sabga (left) yesterday at Tatil’s head office, Maraval Road, Port-of-Spain, where the two met for talks. Ansa McAl chief operating officer Gerry Brooks looks on.
Photo: Karla Ramoo


BY SHERWIN LONG (Trinidad Guardian)



Jamaican billionaire investor and AIC chairman Michael Lee Chin hinted that his group may be willing to acquire RBTT Financial Holdings if the right opportunity presented itself.

Asked yesterday whether his group would be interested in acquiring RBTT, Lee Chin said, “We are open for business. We are a capital allocator. We’re opportunistic. We love the Caribbean and we have money.”

Questioned on whether his response should be taken as an affirmative response, Lee Chin responded, “I would take it as not a no.”

Lee Chin said the Barbados-based FCIB, which is owned by Canada’s CIBC, will be a competitor to every financial services institution in the region.

“They are well financed CIBC is awash with capital,” said Lee Chin, adding, “They are bringing their wad of inexpensive capital to the Caribbean, which is good for the Caribbean. Yes, we see them as healthy and strong competition to us.”

Lee Chin was speaking at a media luncheon as part of a round of meetings he held yesterday to raise his investment group’s profile in the local market.

The meetings included talks with the Unit Trust Corporation, the National Insurance Board and the ANSA McAL group, where he held discussions yesterday afternoon with chairman emeritus Anthony Sabga at Tatil’s head office, Maraval Road, Port-of-Spain.

ANSA McAL chief operating officer Gerry Brooks, who sat in on the meeting, declined to give specific details on what was discussed.

However, he noted that the Caribbean region was expanding in terms of both politicial and commercial significance worldwide.

“As very significant Caribbean institutions, ANSA McAL and AIC have possibilities across the region,” Brooks said.

I think it is appropriate both parties take a look at the Caribbean and see how we ensure our businesses grow. How do we ensure we add value to the lives of Caribbean people in an expanding economy where there are far more possibilities.”

Lee Chin owns Columbus Communications Inc which acquired the Cable Company of T&T in July 2005 for $700 million.

Lee Chin, through his Canadian mutual fund company AIC, has been seeking to raise at least US$1 billion.

He has been trying to build the Caribbean private equity investment fund as a driver to take equity stake in companies across the region.

In May 2006, US government agency, Overseas Private Investment Corporation (OPIC) loaned Lee Chin US$80 million (J$5.2 billion).

The sum has been one of the largest single block of funds secured for the AIC Caribbean Fund.




©2005-2006 Trinidad Publishing Company Limited

This message has been edited. Last edited by: Eric's_Revenge,

Twin girls for Camille


By LARA PICKFORD-GORDON Tuesday, January 23 2007
(T&T Newsday)


Forty-eight-year-old Camille Robinson-Regis, Minister of Planning and Development yesterday gave birth to twin girls at the Port-of-Spain General Hospital.

She was warded on Friday night and the babies were delivered by Caesarian section shortly after 10 am yesterday.

The first girl was delivered at 10.05 am and weighed 2.12 kg while the second was delivered at 10.07 am and weighed 2.04 kg.

The babies were born about five weeks premature. Their due date was to be in early March.

Attending doctors were Dr Hemant Persad and doctors Onasanya and Lanra. After birth, the babies were immediately put in the care of neonatologist Dr Petronella Manning-Alleyne. Robinson-Regis was wheeled on a trolley out of the operating theatre at 11.50 am.

“Everything is all right,” her husband Fitz Regis said. “They are all fine. She is fine.” He was at the hospital during the delivery but was not in the operating theatre.

Asked how he felt about the birth, he said, “It was emotional.” Regis declined to say what names they would give the babies.

“When Camille settles down she will discuss that with you,” Regis said. He and his wife share a history of triplets in their families.

Asked how he felt about managing two babies at this stage, his initial response was “Ha!.”

He told Newsday he would have to comment about the experience “later on.”

The Minister is expected to spend a few days in hospital before returning home, but it was not known when the babies would leave hospital where they are receiving expert care.

Robinson-Regis’ 26-year-old daughter, Omonike Robinson-Pickering said the babies were being kept in an incubator. She said “I feel good. Everybody is happy, and thankful to God. Mummy is fine. Most importantly we give God thanks.” She was also “very excited.” Robinson-Pickering said the family was big and everyone would “chip in” to assist. She thanked the doctors and nurses who took care of her mother and said the post-natal care was also excellent.

“Dr Petronella Manning-Alleyne is looking after the babies. She is doing a great job.” Family members gathered at the hospital to visit Robinson-Regis following the births.

Her advisor, Walda Dottin-Matthew, said Robinson-Regis has confidence in the public health system. “Here has the best facilities. She wanted the best for herself so she opted for the best facility in the country.”

This view was echoed by Health Minister John Rahael who visited Robinson-Regis at 12.30 pm. He said the public hospital was the “best place” and was highly recommended by doctors at private facilities. Rahael said when neonatal care was needed everyone ended up at PoSGH or the Eric Williams Medical Sciences Complex. He said the public Hospitals were “the best place to deliver your child.”

Rahael said he was overjoyed that his colleague was able to deliver her twins at PoSGH and was “doing very well.” Although she was still “slightly sedated” during his brief visit Robinson-Regis he said was “very happy with the outcome.” He said she was looking good and in good spirits. Rahael said Robinson-Regis went to the hospital on Friday night for monitoring. The decision to proceed with the birth yesterday was made even though the babies were not due for at least five weeks. Robinson-Regis now has four daughters, Omonike, a step daughter, and now the twins.

It is the first time in our history that a Cabinet Minister has given birth while in office.


CAMILLE ROBINSON-REGIS

Riding the Celtic tiger


By Clint Chan Tack Thursday, January 25 2007
(T&T Newsday)


Irish Trade and Commerce Minister Michael Ahern says it takes more than a four leaf clover to ensure the economic success of a nation in the era of globalisation.

Ahern made this point crystal clear when he addressed a seminar at the Crown Plaza Hotel in Port-of-Spain last week entitled “The Irish Model of Economic Development Lessons for Trinidad and Tobago.”

The seminar, which was co-hosted by the governments of TT and Ireland, formed part of activities held last week as part of an Irish trade mission which Ahern headed to this country. The visit of Ahern’s mission was the direct result of a similar mission which Trade and Industry Minister Ken Valley led to five European countries in September 2006. Those countries were Ireland, Spain, Germany, France and England.

No stranger to TT, having taught at St Mary’s College in Port-of-Spain from 1970 to 1972, Ahern said he was impressed with the level of development which had taken place in this country since that time. The Irish trade minister also indicated that the type of economic development which TT is undergoing is not dissimilar to that which is taking place in his country and there was much which both nations could learn from one another.

Dubbed the “Celtic Tiger” for its radical economic transformation since the 1950’s, Ireland has moved from a predominantly agricultural economy to one with well developed manufacturing services and international services sectors and can convincingly claim to be a knowledge economy. From 2004 to 2006, Ireland’s Gross Domestic Product (GDP) grew from 4.5 to 5.6 percent. During the same period, TT’s GDP grew from 8.8 to 12 percent. TT and Ireland’s GDP growth figures exceed those of the USA, France, Germany, Spain and Japan from 2004 to 2006.

In terms of the corporate tax rate for selected nations compiled by Deloitte and Touche in September 2006, Ireland’s was the lowest at 12.5 percent followed by TT at 25 percent.

Ahern said Ireland has moved from a position of being one of the poorest countries in the European Union (EU) to a point where it is often cited as an economic role model in the EU and further afield. Ahern said Ireland has today managed to reduce its unemployment levels from ten to four percent and increase the living standards of its population to amongst the highest in the world. “Forecasts for 2007, suggest continued growth of five percent and this is set to continue for the medium to short term,” he stated.

How did this all come about? Ahern said “strenuous attempts were made to build up and support what limited native industry we had by means of high tariffs on imported goods and measures to ensure that Irish-made products got preference in home markets.”

Ahern said these policies had negative socio-economic consequences for Ireland,hampered exports, as other countries reciprocated with tariffs on Irish produce.

Less efficient producers at home were able to survive in an artificial environment with little incentive to innovate and with consumers forced to purchase more expensive goods than would otherwise be the case,” the Irish trade minister said. Ahern added that the inevitable result of those policies was a stagnant industrial base, high levels of unemployment and emigration, low exports and inadequate tax revenue for governments to undertake necessary expenditure.

Now, with incentives for investment, Ahern said the Irish government’s new pro business policies have paid off handsomely, with over 1,050 foreign companies choosing Ireland as their European base of operations.

The Irish trade minister said of these companies, over 600 are US companies that directly employ more than 90,000 Irish citizens some five percent of Ireland’s workforce. He also said 13 of the world’s top pharmaceutical companies and 25 of the top 50 have established a presencet here.

“Exports in the pharmaceutical sectors now account for around 40 percent of total manufacturing exports from Ireland,”. Ahern said. The Irish trade minister also spoke about the establishment of a Competition Authority to deal with monopolies and mergers.

Ahern said while there was no simple formula for economic success and trade liberalisation alone is no panacea. “It is clear that over recent years those countries with the highest level of integration into the world economy have achieved the fastest growth in economic development.”

He further stated that “trade liberalisation does not automatically mean higher growth” because trade liberalisation has little benefit “if the domestic policy is wrong.”

“Economies need to build local institutional and infrastructure framework in order to reap the benefits of trade opportunities,” Ahern added.

Ahern said while many European citizens are sceptical about the benefits of globlisation, the key benefit of globalisation is its increasing trade openness, results in cheaper imports which creates greater consumer power and boosts the demand for goods and services.The Irish minister explained that this means Europe’s prosperity is intrinsically linked to that of the emerging economies in other parts of the world including the Caribbean.

Noting that TT is focusing on developing its education sector as it seeks to shift from an energy to a knowledge-based economy, Ahern said this was the reason why the Irish government moved to implement free secondary education in the 1960’s and free tertiary education in the 1970’s.

In his address to the gathering, Prime Minister Patrick Manning said efforts are being accelerated to attract higher value investments in the downstream energy and non energy sectors of the economy.

Referring to the TT government’s recent establishment of a research development fund to help stimulate business in the non-energy sector of the economy, Ahern said this was a step in the right direction towards a knowledge-based economy.

Ahern also said the social partnership process launched by the Irish government in 1987 has been one of the key pillars in Ireland’s economic transformation since the 1950’s.

This brings together all of the key actors in society the government, employers, trade unions, the farming sector and the representatives of the civil and voluntary sector. “The agreements have helped build a national consensus around economic and social policies, paying rich dividends in terms of employment, growth and social cohesion,” Ahern said.

Repsol rising



Thursday, January 25 2007 (Trinidad Newsday Business Section)



Over the last six years, Repsol YPF, the Spanish-based energy company with shareholding interest in ALNG , has invested over US$3 billion in its assets in the Caribbean, increasing both its value and position in the countries in which it operates.

Currently controlling over 12 assets in Trinidad and Tobago, Venezuela, Cuba, Suriname and Guyana, the Spain-based international energy company said it sees the Caribbean contributing even more to its global growth in the years to come.

“The Caribbean region is a very significant part of Repsol YPF’s Exploration and Production operations,” said Ferdinando Rigardo, Repsol YPF’s Caribbean Region Director at an energy conference here last month. He pointed out that this region represents 19 percent of the global production of the company “and it is one of the growth vectors of the company.”

“ Over the next five-year period, production is projected to grow by over 20 percent with Trinidad and Tobago playing the major role on this growth, “ he added.

Repsol YPF, which began operating its Caribbean asset from Port-of- Spain a year ago, has been involved in the energy sector in this southern English-speaking country since 1995 through its involvement in Atlantic LNG from which the United States imports over 75 percent of its natural gas supplies.

Atlantic LNG also exports supplies to Spain, Puerto Rico and the Dominican Republic.

Repsol became one of the main producers of oil and gas in the Caribbean, in exercising a buy option for the purchase from BP of three oil fields and one gas field (Teakm Samaan and Poui- TSP) in Trinidad and Tobago, off the south-east coast of the island. The purchase price payable at completion is US $229M.

Repsol became one of the main producers of oil and gas in the Caribbean, in exercising a buy option for the purchase from BP of three oil fields and one gas field (Teakm Samaan and Poui- TSP) in Trinidad and Tobago, off the south-east coast of the island. The purchase price payable at completion is US $229M.

Currently, these oil fields produce 20,500 barrels of oil equivalent per day. Production facilities include three platforms, ten drilling satellites and one compression satellite. The Onyx gas field is to be developed.

The risked reserves for the fields are estimated at 174 million barrels of oil equivalent. Investment in the oil fields and the development of the gas field will be around $500 million through 2025.

Repsol YPF currently produces in Trinidad and Tobago through its 30% participation in BPTT, 120,000 barrels of oil equivalent per day. It also has a 20 percent stake in train one, and 25 percent in trains two and three at the Atlantic LNG gas liquefying plant. In the fourth quarter of 2005 the fourth train, with the largest capacity in the world, Repsol YPF holds a 22.22 percent stake.

As outlined in Repsol YPF’s 2005-2009 Strategic Plan, one of the principal vectors of growth for the company will be ppstream, and to consolidate its leading position in the Atlantic Basin, and strengthen its solid position in Trinidad and Tobago.

In the Caribbean, Repsol YPF plans on investing $2.2 billion during the 2005-2009, of which $1.25 billion correspond to Trinidad and Tobago.

In a bid to increase its value and position in the energy sector in Trinidad and Tobago, Repsol has a 30 percent equity in the bpTT’s operations.

Over the past six years, Repsol’s gas sales in Trinidad and Tobago have grown over 400 percent to above 700 million cubic feet per day (MMcf/d) in 2006, reflecting the growth in the LNG export market and domestic gas sales. At the end of 2005, Repsol YPF’s net production from Trinidad and Tobago was 115,000 barrels of oil equivalent per day (BOED) of which some 89 percent was gas.

The estimated closing production figure for 2006 was 144,000 barrels of oil equivalent per day, representing a 25 percent increase. In nearby Venezuela, Repsol YPF has doubled production over the last five years to an estimated total production of 60,000 BOED in 2006, according to Rigardo.

Venezuela’s state-owned national oil company, PDVSA also acquired 60 percent of the production in 2006, through the conversion of existing service contracts to Empresas Mixtas.

Repsol YPF has four service type contracts and two gas licences covering an area of over 9600 km2, holding between 15-100 percent. Rigardo said the company is currently engaged in negotiations with the Venezuelan authorities to transform all the service contracts into “Empresas Mixtras” in order to comply with the new Organic Law for Hydrocarbons.

Under this structure, state-owned national oil company, PDVSA will hold the majority share of the new company. In Cuba, Repsol YPF is considering the possibility of drilling two more exploratory wells next year.

In December 2000, the company acquired six offshore exploratory blocks with an area of 10,702 km squared, with water depth ranging between 800-2200 metres while an additional block was awarded in 2004. In Suriname, Repsol YPF signed a Production Sharing Contract in 2004 with state-owned Staatolie for the exploration of an area described as Block 30, covering 18,600 km with water depth ranging between 100-3000 metres, for a total exploratory period of six years with possible extensions.

A border dispute between the neighbouring governments of Suriname and Guyana has resulted in the delay of the initial phase of an exploration programme in Guyana, covering 13,100 km.

“ Once the dispute is resolved, Repsol YPF plans to take 1500 km of 3D seismic during the first 36 months, then the first well will be drilled after 18 months of seismic interpretation and reprocessing,” said Rigardo.

Looking at potential new businesses, Rigadro said it includes exploratory acreage acquisition in Trinidad and Tobago.The company also plans to look at potential opportunities in Nicaragua, Curacao and Honduras.

The POS waterfront development looks impressive.

quote:

Originally posted by Sunil:
The POS waterfront development looks impressive.

They don't call us a "Tiger" Nation for nothing.

Chinese construction workers in protest


Friday, February 9 2007 (T&T Newsday)


OVER 20 disgruntled Chinese workers who have been in the country working on the construction of the Ministry of Education building at St Vincent Street in Port-of-Spain, yesterday held a placard protest in Santa Cruz demanding a chance to remain in the country. The workers are expected to be sent back to China this weekend.

They were recruited by Shanghai Construction of China for local company Shanghai Construction Group of Trinidad and Tobago.

However, persons who walked past or drove by the protesting workers could not understand their chants since they were speaking in Chinese nor could they read what was written on the placards since it was written in Chinese.

One worker who spoke English, told Newsday they wanted to stay in the country to complete the work on the Education Ministry building and were demanding more money for their work done since they arrived in the country.

Managing Director of Shanghai Construction TT Michael Zhang told Newsday the workers were “a bit disgruntled” after being told they would be sent back home (China).

“The workers wanted to stay in Trinidad but we informed them that another batch of workers will arrive shortly and they cannot stay in Trinidad any longer,” Zhang added that Shanghai recruits thousands of workers for construction work in several countries.

The workers are currently employed in the construction of the Ministry of Education building, the National Carnival Centre at the Queen’s Park Savannah; the Cultural Centre in San Fernando and the Prime Minister’s residence and Diplomatic Centre at St Ann’s.




A worker walks with his placard on which Chinese words were written.
Author: AZLAN MOHAMMED

VEX WORKERS: The group of Chinese workers who protested yesterday in Santa Cruz over being sent back to China after working for several weeks on numerous Government buildings.

T&T buys second ferry
US$46m for Incat Catamaran

Friday, February 9th 2007(Tobago News)

MEN at work on refitting the T&T Spirit at Incat's Hobart Shipyard.


The Government of Trinidad & Tobago has purchased its second Incat Wave Piercing Catamaran in as many months. It paid approximately US$46 million for the ferry two weeks ago.

An Incat statement emailed to the Tobago News on Monday stated that the former US Army Theatre Support Vessel Spearhead (Hull 060) has been purchased from its Delaware, United States based Owners, Bollinger/Incat LLC. It did not gave the selling price, but Works and Transport Minister Colm Imbert had disclosed in August last year that the ferry was being purchased for US$46 million.

The four-year-old fast ferry, to be renamed T&T Spirit, is currently being refitted for passenger service after a well-documented career with the US Army. When she emerges from her refit at Incat's Hobart shipyard T&T Spirit will be sporting a new white hull along with the Trinidad and Tobago national colours of red, white and black on its sides.

Recently, the Port Authority of Trinidad and Tobago (PATT) purchased the Incat 91 metre Wave Piercing Catamaran The Lynx in a US$21 million deal with Australian owner Allco Finance Group. Renamed T&T Express, the ferry (Hull 046), which was once well known for its eye catching black Devil Cat livery, has also been painted with the national colours of Trinidad & Tobago.

Imbert said that the Cabinet had decided to purchase the two fast ferries instead of leasing them, resulting in projected savings over a ten-year period of TT$200 million on T&T Express and TT$100 million on T&T Spirit.

Incat Chairman Robert Clifford comments, "Almost five years ago the Port Authority and the Government of the Republic of Trinidad and Tobago started to develop a vision for the national seabridge based on identifying and then implementing world's best practice in the ferry industry. From the outset demanding benchmarks for proven year round in service reliability, high levels of passenger comfort, low operating costs and the ability to carry heavy freight were established.

"With the permanent acquisition of T&T Express and T&T Spirit, these benchmarks have been exceeded and let there be no doubt, the Port Authority of Trinidad and Tobago has emerged as a significant player in the global ferry market, offering a world class fast ferry service," Clifford said.

Incat's Wave Piercing Catamaran technology revolutionised the Trinidad and Tobago seabridge in January 2005, when after three years of investigating tonnage options, the PATT chartered Bay Ferries' Incat 98 metre The Cat (Hull 059). This vessel entered commercial service on the 85 nautical mile route between Port of Spain and Scarborough and since then, by operating in the Caribbean during the off peak season of its core Canadian operation, The Cat has been instrumental in demonstrating the suitability of Incat Wave Piercing Catamarans on this demanding service.

Immediately upon entering service The Cat, operating at speeds of approximately 40 knots, slashed crossing times in half to two hours and fifteen minutes and for the first time the nation's seabridge became a reliable and predictable transportation alternative to air travel.

The craft quickly became the transport of choice and with capacity for 900 persons and up to 267 cars she successfully responded to the major challenge of catering for 10,000 passengers over the Carnival period.

The T&T Express is currently operating along with The Cat, which remains on seasonal charter on the crossing until April, and as a result doubles the passenger and vehicle capacity on the seabridge. Both ferries make their return voyage in the late afternoon giving travellers a full day in either island.

Chief Secretary Orville London told the launch of the new $15 million agricultural programme two weeks ago at the Louis D'Or Nursery that the purchase was finally completed and the ferry would be here by June.

When The Cat leaves at the expiration of its lease on May 1, it would result in only the T&T Express servicing the seabridge until the T&T Spirit arrives in June.

Children masqueraders shine


By LARA PICKFORD-GORDON Monday, February 12 2007
(T&T Newsday)


AMERICAN INDIANS, princesses, sea creatures, glitzy Las Vegas, 18th century France and a few strange looking creatures were all represented at the National Carnival Bands Association’s (NCBA) Junior King and Queens preliminary competition at the Jean Pierre Complex yesterday.

The competition was scheduled to start at 9 am, however, at that time groundsmen were hurriedly dismantling a tent which was left from Saturday’s Red Cross Kiddies Carnival. The tent was located at the entrance to the stage. Cleaners were also seen sweeping the stage area.

An hour later, the show commenced with the singing of the national anthem and the first masquerader to parade before the judges was 11-year-old Cindy Timothy with her portrayal of “Belly Dancing Princess” in the fantasy category. The first male was five-year-old Eddison Charles as “Mr Jazz Man.”

There were two separate judging points for the males and females and masqueraders moved across the stage in quick succession with male and female portrayals alternating.

Tiny masqueraders had the audience and judges smiling. Two-year-old Jade Edwards portrayed “Orange Pine Ice Cream” complete with two cones topped with orange ice cream and an ice cream pail, while three-year-old Chantal Holder (with a little coaxing from her mother) twirled round and round in her “Ritual Dancer” costume.

The antics and dances of some masqueraders provided added entertainment. Jeremy Peters was jumping and rolling on the ground as he played “The Black Bull Charges the Matador” while Danielle Brewster performed a Native American dance for “White Deer.”

Eighteen-month-old Zidane Sylvester steered his “Bee Mobile” across the stage but the heat almost reduced him to tears. A few of the older masqueraders seemed worn out by the time they were off the stage.

Most of the children enjoyed their moment on stage and by noon several costumes had crossed including: Sarah Barkaar as “The Dragon with Character,” Jesus Carlo as “Juang Lee Light and Shadow,” Joshua Prescott as “Trini Revellers,” Kevin Lewis as “The Dragon Can Dance,” Te’Shauna Alexander as “The Evergreen Princess,” Ahlyia Downes as “Snow Queen,” Enrique Shampoo as “Rock Me Orange Sky,” Brandon Nunes as “Elvis has Left the Building,” Alva Brathwaite Jr “Lord of Fire.”

There were 233 females and 232 males registered although the actual number present looked much less.


Lystia Mulzac, six, portrays "Ice Cream." She is an individual in the band Celebrating St James.