PORT OF SPAIN, Nov. 3 -- Trinidad and Tobago has signed an agreement with a consortium led by Clico Energy LLC for construction of a $700 million ammonia, urea, and melamine complex at the Point Lisas industrial estate.
By Curtis WilliamsColonial Life Insurance Co. Ltd. will own 40% of the complex, Clico Energy 30%, and German energy company Ferrostaal 30%.
Sources say Trinidad and Tobago also is holding negotiations with BP Trinidad and Tobago LLC for construction of another megaproject?a gas reformer to produce synthetic gas for several methanol and ammonia plants.
Trinidad and Tobago, already the world's leading exporter of methanol and ammonia, will no longer approve projects to build single ammonia or methanol plants, according to a recent announcement by Prime Minister Patrick Manning (OGJ Online, June 3, 2004). Manning said the country could generate more revenue by selling its natural gas as LNG to the US, where it provides 75% of all LNG imported, and would consider further methanol and ammonia expansion only if it were part of such comprehensive "megaprojects."
