Prime Minister Dr Keith Rowley and Energy Minister Stuart Young met with Proman chief executive David Cassidy and his executive team at the energy company’s headquarters in Zurich, Switzerland yesterday.
A post on the Office of the Prime Minister’s (OPM) Facebook page yesterday described Trinidad and Tobago as a key center of Proman’s operations with 14 petrochemical plants owned and operated there with 1,100 employees, which is 67 percent of the group’s global headcount.
The Proman family’s 14 petrochemical plants at Point Lisas Industrial Estate include five methanol plants, two ammonia plants and a seven-plant urea-ammonium nitrate (UAN) and melamine complex.
During yesterday’s meeting, Proman reiterated his commitment to Trinidad and Tobago. The company highlighted its planned investment of $1.1 billion over the next ten years for major plant maintenance improvements at Point Lisas Industrial Estate. This investment will fund work on safety, reliability and greenhouse gas reduction initiatives, according to the OPM post.
The company will also work with the Government to pursue other energy transition initiatives and opportunities.
Discussions also focused on Proman-DeNovo’s upstream company—its operations and opportunities for expanding its acquisitions.
The meeting featured talks on Proman’s promotion of methanol as a marine fuel and the reduction of shipping emissions.
Opportunities were explored for T&T as one of the significant global exporters of methanol, which also boasts a safe port, to position itself as a major fuel supply destination.
The role of carbon capture in the new economic model for the energy transition was also part of the discussions today.
During the meeting, two members of Proman’s executive management team, Trinidadians Ricardo Mohammed, managing director of group operations and Anita Gajadhar, managing director of marketing, logistics and shipping gave detailed presentations on how Trinidad and Tobago is adapting to the company’s global impact.
Tomorrow Prime Minister Rowley and Minister Young will visit Proman’s operations in Germany.
Last Friday, Proman said it invited the Prime Minister to its headquarters in Switzerland to introduce him to Proman’s wider business and discuss future investment opportunities in T&T.
In particular, Proman said, it will present its sustainability plans and present the suite of technologies that Proman has available and how they can align with the government’s sustainability agenda.
